Tibco shares rise after fiscal 1st-quarter profit nearly doubles to beat analyst estimates

Tibco climbs after 1Q beats analyst estimates

SAN FRANCISCO — Tibco Software Inc. shares climbed Friday after the business software maker said its fiscal first-quarter profit nearly doubled as license and service and maintenance revenue climbed. The results beat analyst estimates.

Tibco shares rose 52 cents, or 4.9 percent, to $11.13 in midday trading. The stock earlier hit a new year high of $11.55, eclipsing a prior peak of $10.96.

For the quarter ended Feb. 28, Tibco reported a profit of $10.4 million, or 6 cents per share, compared with $5.6 million, or 3 cents per share, in the same quarter a year earlier.

Excluding special items, Tibco earned 12 cents per share in the latest quarter, which is 2 cents higher than forecast by analysts polled by Thomson Reuters.

Revenue climbed 17 percent to $155 million, beating analysts’ estimate of $148.4 million.

Tibco, based in Palo Alto, Calif., reported its results late Thursday.