Seeking Alpha

Tibco guides light; shares -2.8% AH

  • Tibco (TIBX) guides on its FQ2 CC for FQ3 revenue of $267M-$279M and EPS of $0.15-$0.19, largely below a consensus of $278.5M and $0.24.
  • A relatively soft guide was expected following Tibco's June 3 FQ2 warning.
  • License revenue (30% of total revenue, drives future services revenue) fell 7% Y/Y in FQ2. Tibco once more blames execution issues, and says it's "aggressively focusing on making strategic, operational and organizational changes to address our execution challenges."
  • Tibco's nascent subscription business grew 63% Y/Y to $5.8M (2% of revenue). Services/maintenance revenue (67% of revenue, largely stems from past deals) rose 7%. Opex rose 6% to $159.3M.
  • Tibco's numbers arrive a week after activist Praesidium Investment disclosed a 3.4% stake and called for changes.
  • FQ2 results, PR
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