Tags: Qlik | Shares | Analytics | Software

Qlik Shares Gain on Demand for Data Analytics Software

Thursday, 23 Oct 2014 06:04 PM

Qlik Technologies Inc. reported strong third-quarter revenue and forecast full-year revenue largely above analysts' average estimate, helped by higher demand for its business analytics software.

Shares of the company rose 6.6 percent to $26.25 at about 6 p.m. in New York, after gaining 3.2 percent during the regular session to close at $24.62.

The company, which competes with Tableau Software Inc. and Splunk Inc., said it expects full-year adjusted profit of 18-22 cents per share on revenue of $550-$555 million.

Analyst on average were expecting a profit of 25 cents per share and revenue of $550.5 million, according to Thomson Reuters I/B/E/S.

The company's flagship product, QlikView, helps companies organize vast amounts of data in the form of reports, charts and infographics.

Its Qlik Sense application, launched in July, allows users to drag and drop information from multiple sources to create personalized, interactive data visualizations and reports.

"Sales execution has improved ... We think the new products should capture 'money on the table' that's currently going to competitor Tableau," CLSA analyst Ed Maguire wrote in a pre-earnings note.

Qlik reported a net loss of $14.4 million, or 16 cents per share, for the third quarter ended Sept. 30, compared with a profit of $3 million, or 3 cents per share, a year earlier as expenses rose by a about a third.

Excluding items, the company earned 1 cent per share. Analysts had expected the company to break even on a per-share basis.

Total revenue rose 26 percent to $131.3 million, above the average analyst estimate of $124.1 million.

© 2017 Thomson/Reuters. All rights reserved.

 
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Qlik Technologies Inc. reported strong third-quarter revenue and forecast full-year revenue largely above analysts' average estimate, helped by higher demand for its business analytics software.
Qlik, Shares, Analytics, Software
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2014-04-23
Thursday, 23 Oct 2014 06:04 PM
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