Qlik, Informatica raise revenue outlooks, shares jump
(Reuters) - Informatica Corp (INFA.O) and Qlik Technologies Inc (QLIK.O) reported better-than-expected quarterly revenue and the business software makers raised their full-year revenue forecasts as enterprises spent more on integrating and analyzing data.
The companies' shares rose in extended trading.
While tech spending has been weak and traditional software companies have suffered, companies that make software to manage, process and analyze data have found favor as customers look to mine data for real time answers to their problems, boosting efficiency and cutting costs.
"We benefited from broad-based customer demand with key wins in multiple vertical segments, including financial services, public sector, manufacturing and healthcare," Informatica CEO Sohaib Abbasi said on a conference call with analysts.
The company, which makes software to help companies integrate data from various sources, raised its full-year revenue forecast to $885 million-$925 million, from $850 million-$900 million.
Abbasi said the company's North American business, which accounts for more than two-thirds of its revenue, was very strong, while Europe remained challenging.
Informatica reported a 15 percent increase in its services business in the first quarter, while total revenue of $214.3 million was ahead of analysts' estimates of $202.2 million, according to Thomson Reuters I/B/E/S.
Informatica's shares rose more than 8 percent to $35 in extended trading while those of peer Qlik rose 14 percent to $27.10.
Qlik posted a smaller-than-expected quarterly loss as license sales jumped 14 percent.
"We continue to benefit from sales process improvements ..., expanded service and support offerings, and ongoing momentum across our partner network," Qlik's CEO Lars Björk said.
Qlik raised its 2013 profit forecast range by 2 cents per share and now expects 41 cents to 44 cents per share. It also raised its full-year revenue range by $6 million and expects revenue of $471 million to $481 million.
License revenue for the first quarter rose to $52.7 million. Total revenue rose 22 percent to $96.5 million.
Analysts on average had expected revenue of $91.3 million.
(Editing by Don Sebastian)