The Seattle company, which sells data-analytics software, exceeded analysts’ expectations for the second quarter.
Tableau Software reported better-than-expected results in the second quarter as its loss shrank amid growth in sales of the company’s subscription-based data-analytics software.
The Seattle company said Wednesday that it lost 54 cents a share during the three months ended in June, narrowing from 64 cents a share a year earlier.
Excluding the cost of stock paid to employees, which is among Tableau’s largest expenses, and other items, the company posted a profit of 10 cents a share. Analysts polled by S&P Global Market Intelligence had expected a loss of 5 cents a share.
The company’s shares climbed more than 6 percent in after-hours trading after the report, touching $68 a share. Tableau stock had closed regular trading Wednesday down 2.2 percent, at $62.02.
The company, led by former Amazon.com executive Adam Selipsky, has been trying to shift its business from one-time sales of its software to a subscription-based model.
Revenue in the just-completed quarter was $212.9 million, slightly above analysts’ estimates and up 7.2 percent from a year ago.
That growth rate is the smallest since the company’s public stock listing in 2013, and marks a 12th consecutive quarter of slowing year-over-year sales growth.
The company says 37 percent of its license bookings in the quarter were from customers buying subscriptions, up from 16 percent a year earlier.
“We’re very pleased with how the (subscription) rollout went,” Selipsky said on a conference call with analysts.
Overall, Tableau’s net loss was $42.5 million, narrowing from $47.5 million a year earlier.