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Tibco Tops Wall Street Profit View by Nearly 20%

NEW YORK ( TheStreet) -- Tibco Software (TIBX - Get Report) beat Wall Street's profit expectations for a ninth straight quarter on Wednesday and the stock caught a slight bounce in late trades.

For the three months ended Nov. 30, Tibco reported non-GAAP earnings of $72.2 million, or 42 cents a share, on revenue of $289.5 million. The performance bested the average estimate of analysts polled by Thomson Reuters for a fiscal fourth-quarter profit of 35 cents per share on revenue of $281.3 million.

"TIBCO delivered another strong year of accelerating revenue growth and expanded profitability in 2011," said Vivek Ranadivé, TIBCO's chairman and chief executive officer in the company press release.

Shares of Tibco, which makes cloud computing applications, fell more than 6% to $22 in the regular session as a weak quarter from tech bellwether Oracle (ORCL) raised doubts about the sector. In the extended session, Tibco's stock was last quoted at $22.31, up 1.4% on volume of more than 1 million, according to Nasdaq.com, although the shares did scrape an after-hours low of $20.61.

-- Written by Chris Ciaccia in New York

>To follow the writer on Twitter, go to http://twitter.com/commodity_bull.

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