Tableau misses Q3 revenue expectations
Tableau posted mixed third quarter results on Tuesday, sending stocks down in after-hours trading after reporting revenues that fell short of expectations.
The data visualization software company posted non-GAAP earnings of 16 cents a share on revenue of $206.1 million. With total revenue up 21 percent year over year, it generated its highest quarterly revenues.
Still, Wall Street was looking for earnings of 7 cents per share on revenue of $213.8 million.
Acknowledging the mixed results, Tableau chairman and co-founder Christian Chabot said in a statement, "Our results were impacted by extended sales cycles on large deals in the US and softness in EMEA."
The company added more than 3,600 new customer accounts for the quarter, expanding its base to over 50,000 worldwide accounts. It also closed 360 transactions in Q3 greater than $100,000, up 22 percent year over year.
Licensing revenue reached $116.7 million, up 7 percent year over year. Maintenance and services revenue increased 46 percent to $89.4 million, up from $61.4 million in Q3 2015.
CEO Adam Selipsky said in a statement that the company plans to deepen its enterprise engagements and accelerate its progress in the cloud.