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Tags: Tibco | Software | Shares | Outlook

Tibco Software Shares Fall on Disappointing Outlook

REUTERS Tuesday, 03 June 2014 07:07 PM EDT

Tibco Software Inc estimated a much lower-than-expected profit for the second quarter, hurt by disappointing sales of its software, Spotfire.

The business software maker's shares fell about 15 percent in after-hours trading.

Tibco, whose customers include Delta Air Lines Inc, FedEx Corp and Merck & Co Inc, estimated adjusted earnings of 12-13 cents per share for the quarter ended June 1.

Analysts on average were expecting earnings of 21 cents per share, according to Thomson Reuters I/B/E/S.

The company said it expects revenue of $250-$252 million, below the average analyst estimate of $267.5 million.

Tibco in March forecast adjusted earnings of 20-22 cents per share on revenue of $263-$271 million.

The company will report results for the quarter on June 19.

Tibco's shares were at $17.75 in extended trading after closing at $20.79 on the Nasdaq on Tuesday.

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