TIBCO Software Inc. (TIBX) Thursday said first-quarter profit more-than-halved, hurt mainly by higher expenses.
Net income for the quarter declined to $9.53 million or $0.06 per share from $20.62 million or $0.12 per share in the comparable quarter last year.
Adjusted earnings for the period was $31.1 million or $0.18 per share. On average, 22 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $237.79 million, up from $225.70 million last year. Analysts expected revenues of $242.45 million.
Operating expenses increased to $145.29 million from $135.46 million last year.
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