September 23, 2010 / 8:57 PM / 9 years ago

UPDATE 1-Tibco Q3 beats Street, buys software firm

* Q3 adj EPS $0.17 vs est $0.15

* Q3 rev $184.5 mln vs est $175.8 mln

* Shares up 8 pct in trading after the bell

Sept 23 (Reuters) - Business software maker Tibco Software Inc TIBX.O posted better-than-expected quarterly results, helped by higher license revenue, sending its shares up in extended trade.

The company also said it bought privately held OpenSpirit Corp, which provides software for the global oil and gas market, for an undisclosed sum.

For the third quarter the company earned $17.4 million, or 10 cents a share, compared with $14.9 million, or 9 cents a share, in the year-ago period.

Excluding items, Tibco which makes programs that help computer systems communicate with each other and quickly analyze data, earned 17 cents.

Tibco which competes with larger rivals IBM Corp (IBM.N) and SAP AG (SAP.N) (SAPG.DE), saw revenue rise 23 percent to $184.5 million.

Analysts on average were looking for earnings of 15 cents a share, on $175.8 million in revenue, according to Thomson Reuters I/B/E/S.

The Palo Alto, California-based company, which purchased software maker Proginet Corp PRGF.OB during the quarter, reported licence revenue of $70.6 million, up 23 percent from last year.

Tibco’s shares, which closed at $16.37 on Thursday on Nasdaq, had hit a year high of $16.58 during the day. They were up 8 pct at $17.70 in extended trade.

Reporting by Himank Sharma in Bangalore; Editing by Prem Udayabhanu

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