Software maker Tableau's results beat Street estimates

Reuters News
Posted: Feb 04, 2014 4:16 PM

(Reuters) - Data analysis software maker Tableau Software Inc reported quarterly results that handily beat analysts' estimates due to higher license sales, sending its shares up 16 percent in extended trading.

Tableau's license sales jumped 93 percent to $58.0 million, while revenue nearly doubled to $81.5 million.

"The company also experienced acceleration in large deal sign-ups and new customer signings given that this was the fourth quarter and momentum remains in their favor," Mizuho Securities U.S.A. analyst Abhey Lamba said in a note.

Tableau's business intelligence software is used by companies such as Deere & Co, Sears Holdings Corp and affiliates of Verizon Communications retrieve large volumes of data. It also helps users analyze, visualize and share information.

Tableau posted a net income of $11.2 million, or 16 cents per share, in the fourth quarter, compared with a loss of $1.1 million, or 3 cents per share, a year earlier.

Excluding items, the company earned 20 cents per share.

Analysts on average had expected Tableau to break even on a per share basis on revenue of $67.1 million, according to Thomson Reuters I/B/E/S.

The company's shares closed at $79.43 on the New York Stock Exchange on Tuesday.

Tableau had a blockbuster debut in May, with its shares rising as much as 68 percent.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Sriraj Kalluvila)