Tibco Software Inc. said on Thursday its first-quarter profit rose 2 percent, saying it was benefiting from companies moving toward infrastructure software as a means to increase efficiency.
Tibco said it earned $5.6 million, or 3 cents per share, during the quarter that ended March 1, up from $5.5 million, or 3 cents per share, during the same period last year. Revenue fell 9 percent to $132.9 million, from $146.6 million a year earlier.
The company said it would have earned $15.2 million, or 9 cents per share, up from $14.1 million, or 7 cents per share, during the same period last year not counting stock-based compensation expense, amortization of acquired intangible assets, and with a different tax rate.
Analysts surveyed by Thomson Reuters, who generally exclude such items, were expecting a profit of 8 cents per share on revenue of $141.8 million.
Tibco shares rose 46 cents, or 8.4 percent, to close at $5.93 on Thursday.
