Tibco Software Posts Higher 3Q Profit

PALO ALTO, Calif. (AP) — Business software company Tibco Software Inc. said Thursday its fiscal third-quarter profit climbed as lower expenses outweighed a revenue decline.

The results beat Wall Street's expectations, and the company's shares jumped in after-hours trading.

For the three months ended Aug. 30, the company earned $14.9 million, or 9 cents per share, up 34 percent from $11.1 million, or 6 cents per share, in the same period a year earlier.

Revenue fell 7 percent to $150.3 million from $162.3 million.

Adjusted earnings were 13 cents per share in the latest quarter.

Analysts, on average, were expecting a profit of 11 cents per share on sales of $144.5 million, according to a poll by Thomson Reuters.

The quarter's operating expenses fell 10 percent, to $91.4 million.

Shares rose 62 cents, or 6.8 percent, to $9.75 in after-hours trading. The stock had closed down 7 cents at $9.13 in the regular session.