Tibco hits Q2 earnings target but falls short on revenue

Summary:The infrastructure software company missed the outlook last quarter, so the pressure was on to step up this time.

While it didn't garner as much attention as some other software providers (ahem, Oracle) today, Tibco reported second quarter earnings after the bell on Thursday.

The infrastructure software company reported a second quarter net income of $8.7 million, or five cents per share (statement). Non-GAAP earnings were 18 cents per share on a revenue of $245.8 million.

But Wall Street was looking for Tibco to report a revenue of $246.55 million with earnings of 18 cents per share.

zdnet-earnings-tibco-q2-2013-1

CEO Vivek Ranadive offered a diplomatic yet optimistic reflection on the quarter in prepared remarks:

Improving sales execution remains our top priority. While work remains to be done, we saw signs of improvement and a healthier base of activity this quarter. Given the opportunity we see, we continue to invest for growth and innovation. Our ability to extract insights from static and real-time data and then operationalize those insights to help customers achieve the Two Second Advantage is a powerful driver and well-aligned with market needs in this era of big data.

Tibco missed the outlook last quarter , so the pressure was on to step up this time.

Wall Street is expecting Tibco to deliver third quarter revenues of $263.33 million with non-GAAP earnings of 25 cents per share.

Tibco didn't provide guidance in its initial report, but it is expected to be included in the quarterly conference call with analysts and investors at 1:30PM PT/4:30PM PT.

UPDATE: For guidance, Tibco fell below analyst targets once again with a promised revenue range of $253 million to $263 million and earnings of 21 to 23 cents per share.

 

Screenshot via Tibco Investor Relations

Topics: Enterprise Software, Enterprise 2.0, Software, Software Development, Tech Industry

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.