Tibco Software Inc. reported that its fiscal first-quarter profit fell by more than 50 percent on disappointing revenue.

The news sent shares of the business software company down sharply in after-hours trading Thursday.

Tibco's net income fell to $9.5 million, or 6 cents per share, for the period that ended March 3. That is down from $20.6 million, or 12 cents per share, a year earlier. After adjusting for acquisition expenses, restructuring costs and other items, it earned 18 cents per share versus 20 cents per share.

The company's total revenue increased 5 percent to $237.8 million from $225.7 million.

Adjusted earnings per share met Street estimates, according to a survey by FactSet, but revenue fell short of the average forecast of $242.3 million.

Vivek Ranadivé, Tibco's chairman and CEO, said the company is making the right moves to steady its performance and deliver its next phase of growth. He said Tibco is well positioned to take advantage of current trends in information technology spending, particularly given its approach to integrating and analyzing data in real time.

Shares sank 14 percent to $19.80 in after-hours trading on the news. The stock has lost nearly 24 percent of its value in the past six months.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel