Tableau Q1 strong as visualization software lures enterprise

Tableau's first quarter came in better than expected as rival Qlik made a bevy of moves recently.

Tableau reported first quarter results that was well ahead of expectations as the company added 3,500 new customers.

The visualization software company reported a net loss of $45.6 million, or 62 cents a share, on revenue of $171.7 million, up 32 percent from a year ago. On a non-GAAP basis Tableau broke even on a per share basis.

Wall Street was looking for a non-GAAP loss of 10 cents a share on revenue of $164 million.

Tableau said in a statement that it closed 268 transactions more than $100,000. License revenue was up 14 percent compared to a year ago and international sales were $48.1 million, up 52 percent from a year ago.

The results come as rival Qlik also reported strong earnings. Visualization software is turning out to be a hot area for enterprises.

Qlik reported a first quarter loss of $24.8 million, or 29 cents a share, on revenue of $138 million, up 15 percent from a year ago. The non-GAAP loss for Qlik in the first quarter was 9 cents a share.

In addition, Qlik projected second quarter growth of 12 percent to 15 percent as well as 2016 sales between $704 million to $714 million.

Qlik recently acquired data prep firm Industrial Codebox and formed a partnership with Host Analytics. Qlik also rolled out Qlik Sense Enterprise 3.0 and a cloud version.