Qlik CEO: European Firms Still Buying Cutting Edge Technology

Strong execution across the board including in Europe enabled Qlik Technologies to beat Wall Street's earnings estimate in the third quarter, said the company's CEO Lars Bjork. Bjork added that European companies need Qlik's decision-making technology software even more during challenging economic times when they face greater monetary constraints. He said Qlik lowered its fourth quarter sales guidance as a result of currency headwinds as opposed to any company specific hurdles. Finally, Bjork said the weak third quarter results from traditional technology companies like IBM illustrates the emergence of new 'best of breed' players.