PALO ALTO, Calif. (AP) — Tibco Software Inc. said Thursday that its third-quarter earnings rose 36 percent as demand rose for its software, which helps companies manage their internal data. The company’s results beat analyst expectations.
During the quarter that ended Aug. 28, net income rose to $23.5 million, or 14 cents per share, from $17.4 million, or 10 cents per share, in the year-ago quarter.
Excluding one-time items, Tibco earned 23 cents per share. Analysts polled by FactSet expected 21 cents per share, on average.
Revenue climbed 24 percent to $229 million — $9 million higher than the $220 million analysts expected. License revenue rose 29 percent to $90.9 million, while service and maintenance revenue rose 21 percent to $138 million.
Tibco sells its services to companies looking to do a better job of managing their internal data. That task has become more complex as more information flows through smartphones, Facebook and Twitter.
Tibco shares rose 43 cents to $22.24 in after-hours trading. The stock finished regular trading down 42 cents at $20.97.