Tableau delivered disappointing third quarter financial results with revenue nearly flat and losses widening.
The Seattle-based data visualization firm reported a net loss of $46.5 million, or 59 cents per share.
Non-GAAP earnings were 8 cents per share on top of $214 million in revenue, up 4 percent year over year. Wall Street was expecting 9 cents per share with revenue of $219 million. Tableau shares were down 11 percent during after-market trading.
Tableau said it had total annual recurring revenue of $526.2 million, up from $361.4 million at the end of the third quarter of 2016. Subscription revenue increased 204 percent to $139.2 million, up from $45.7 million during the same period a year ago.
Tableau has spent the last two quarters or more moving to a subscription-based sales model, and despite the losses this quarter, chief executive Adam Selipsky said the process is running smoothly and "customers are embracing our subscription offerings even faster than expected."
"Forty-five percent of our license bookings were sold on a subscription basis this quarter, nearly triple the percentage a year ago, as more and more customers turn to subscription to better address their analytics needs with lower upfront cost and reduced risk," Selipsky said.
Arista Networks reported strong third quarter earnings and revenue that handily topped estimates. The company reported earnings of $133.7 million, or $1.68 a share, on revenue of $437.8 million, up 50.5 percent from a year ago. Non-GAAP earnings were $1.62 a share.
Wall Street was looking for non-GAAP earnings of $1.19 a share on revenue of $418.5 million.
Arista also upped its outlook and called for sales of $450 million to $464 million for the fourth quarter. Wall Street was expecting sales of $447.1 million.
Hortonworks delivered better-than-expected results amid strong enterprise demand. The company reported a net loss of $45.4 million, or 67 cents a share, on revenue of $69 billion, up 45 percent from a year ago. The non-GAAP loss for the third quarter was 24 cents a share.
Wall Street was expecting Hortonworks to report a non-GAAP loss of 40 cents a share on revenue of $63.1 million.
As for the outlook, Hortonworks projected fourth quarter revenue of $70 million and $257 million for the year. Both of those sums were above expectations.