TIBCO Software Inc. (TIBX: Quote) Thursday reported a better-than-expected rise in second quarter profit, on improved revenue as more customers made use of its infrastructure software platform.
TIBCO Chief Executive Vivek Ranadivé said, "A growing list of customers across industries and geographies are harnessing big data and becoming event-driven through the use of our infrastructure software platform..."
TIBCO'S revenue for the quarter grew 14 percent year-over-year. License revenue was up 13 percent, and Service and maintenance also increased.
Palo Alto, California-based TIBCO reported second quarter net income of $26.5 million or $0.16 per share, up from $21 million or $0.12 per share last year.
Excluding items, earnings for the quarter were $43.6 million or $0.26 per share, compared to $36.3 million or $0.21 per share in the prior year.
On average, 18 analysts polled by Thomson Reuters expected earnings of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.
TIBCO, which provides middleware and infrastructure software, reported quarterly revenues of $247.4 million, up from $216.4 million a year ago. Analysts expected sales of $244.87 million for the quarter.
TIBX closed Thursday at $26.83, down $0.21 or 0.78%, on a volume of over 5.0 million shares on the Nasdaq. In after hours, the stock gained 1.38%.
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by RTT Staff Writer
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