Shares of Tibco Software Inc. (NASDAQ:TIBX) were beaten down in after hours trading, even though the company beat analysts' estimates. Even so, it wasn't like they have beaten expectations in the past, which apparently generated the downward pressure, presumably on the idea growth is slowing.
In the previous eight quarters Tibco had an average beat of estimates of 16 percent, while this quarter it was only 5 percent above consensus.
For its fiscal first quarter, earnings minus one-time items came in at 16 cents a share, with revenue reaching $185.3 million. Analysts surveyed by FactSet Research had estimated earnings of 15 cents a share on revenue of $182.5 million.
Tibco closed Tuesday at $26.27, gaining $0.14, or 0.54 percent. In after hours trading the company plunged by $1.47 to $24.80, down $1.47, or 5.60 percent.
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