Stock of business intelligence software company Tableau Software tanked 50% Thursday after the company missed expectations for growth.
In the company’s quarterly earnings it said that year-over-year licensing revenue declined 31% and set guidance for sales at $830-850 million, below analysts’ estimates for $871.1 million.
In response the company’s shares collapsed by around 50%, from $81.75 at the market close to around $40.80 in after hours trading.
Despite the negative news, the company actually beat quarterly expectations. Non-GAAP earnings per share (EPS) for the fourth quarter was $0.33, down from $0.42 in the fourth quarter of 2014 but higher than analysts’ expectations for $0.16 per share.
However, GAAP earnings per share was -$0.57 per share and total GAAP loss was $41.3 million. Both GAAP figures were positive in Q4 2014.
Revenue was right on expectations of $201 million.
At the close, Tableau’s market cap was $5.9 billion; now it’s half that.
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