Tibco's quarterly revenue misses estimates, shares fall
(Reuters) - Business software maker Tibco Software Inc TIBX.O reported revenue that missed analysts' estimates for the third consecutive quarter and a profit in-line with Wall Street's reduced expectations, sending its shares down 11 percent.
Net income more than halved to $9.5 million, or 6 cents per share, in the first quarter, from $20.6 million, or 12 cents per share, a year earlier.
Excluding items, earnings were 18 cents per share.
Revenue rose 5 percent to $237.8 million.
Licensing revenue, which accounted for about 40 percent of total revenue in 2012, fell 5 percent to $78.3 million.
Analysts on average had expected adjusted earnings of 18 cents per share on revenue of $242.5 million, according to Thomson Reuters I/B/E/S.
Tibco in December forecast first-quarter adjusted profit of 17 cents to 18 cents per share, below Wall Street analysts' expectations of 21 cents per share.
The company's software helps customers manage applications and information. Some of its customers include Delta Air Lines (DAL.N), FedEx (FDX.N), Merck (MRK.N) and tea company Twinings.
Shares of the company, which have risen about 12 percent in the last three months. were down at $20.63 in trading after the bell. They closed at $23.17 on the Nasdaq on Thursday.
(Reporting by Chandni Doulatramani in Bangalore; Editing by Sriraj Kalluvila)