Jive Software, Inc. (NASDAQ: JIVE) announced financial results tuesday for its third quarter ended September 30, 2014.
Total revenue for the third quarter was $46.6 million, beating expectations of $44.31 million and an increase of 25 percent on a year-over-year basis.
Within total revenue, product revenue was $42.2 million for the third quarter, an increase of 26 percent on a year-over-year basis. Professional Services revenue for the third quarter was $4.4 million, an increase of 14 percent on a year-over-year basis.
Non-GAAP net loss for the third quarter was $2.7 million, compared to a net loss of $7.3 million for the same period last year.
Non-GAAP net loss per share for the third quarter was $0.04, beating expectations of a $0.09 loss, based on 71.0 million weighted-average shares outstanding and compared to net a loss per share of $0.11 based on 68.2 million weighted-average shares outstanding for the same period last year.
"Jive generated solid third quarter results that exceeded the high end of our guidance range from both a revenue and profitability perspective," said Tony Zingale, Chairman & CEO of Jive Software.
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Finally, Zingale added, "I'd like to congratulate Elisa Steele on her promotion to President of Jive. I look forward to working with her in my new role as Executive Chairman and believe her enthusiasm and passion for Jive and the enterprise collaboration market will be a tremendous benefit to the company."
Jive Software, Inc. traded at $7.00 in the aftermarket, up 18.85 percent.