PALO ALTO, Calif. (AP) — Business software provider Tibco Software Inc. said Thursday its net income rose 11 percent in the fiscal third quarter as sales picked up.
However, the company's revenue fell short of Wall Street estimates, and Tibco shares slipped in aftermarket trading.
The company said it earned $26.1 million, or 15 cents per share, in the quarter ended Sept. 2. That's up from $23.5 million, or 14 cents per share, one year earlier.
Excluding one-time charges, Tibco said its net income totaled 27 cents per share in the latest quarter. Revenue grew 11 percent, to $255 million from $229 million.
Analysts were forecasting revenue of 27 cents per share and revenue of $259.7 million, according to estimates compiled by FactSet.
Tibco said its service and maintenance revenue rose 13 percent to $155.9 million, and license revenue increased 9 percent to $99.1 million.
Tibco's stock tumbled 79 cents, or 2.7 percent, to $29.07 in extended trading following the release of the earnings report. It ended the regular session down 2 percent to $29.86 Thursday.