Tableau ups outlook after strong Q3

Tableau delivered a strong third quarter and sees strong revenue growth for the fourth quarter.

Data visualization company Tableau raised its outlook for the fourth quarter following a strong third quarter.

On a conference call with analysts, the company projected fourth quarter revenue of $195 million to $200 million. Wall Street was looking for $193 million.

For 2015, Tableau is projecting revenue of $617 million to $627 million as revenue growth could approach 50 percent. For 2016, Tableau sees revenue in the range of $845 million to $865 million.

"We believe our market opportunity is much larger and plan to build a $1 billion business over the next few years," said CEO Christian Chabot.

As for the third quarter, Tableau reported a third quarter net loss of $13.4 million, or 19 cents a share, on revenue of $170.8 million, up 64 percent from a year ago. Non-GAAP earnings were 14 cents a share.

Tableau said that it closed 296 transactions worth more than $100,000. Tableau's model is usually to enter an enterprise with smaller deals and then gain market share and usage as companies use the visualization for more units.

The company added 3,100 new customers in the third quarter.