Tableau Software’s Q2 earnings fall short of estimates

Data analytics provider Tableau Software reported second quarter earnings after the bell today. The Seattle-based company posted a loss due to higher than expected expenses for the quarter, while still beating analyst’s expectations in terms of revenue.

For the three months ended June 30, Tableau posted total revenue of $198.5 million and non-GAAP net earnings came in at $0.00.

Analysts surveyed by Yahoo! Finance expected revenue at $193.75 million and EPS at $0.05. In after-hours trading, the stock was down 5 percent but then recovered later.

As for GAAP measures, net loss was $47.5 million, or $0.64 per diluted common share, compared to a net loss of $19.0 million, or $0.27 per diluted common share, for the second quarter of 2015.

“In quarter two, our expenses came in higher than planned,” said Tom Walker, Tableau’s CFO, during a conference call with analysts.

Sales and marketing expenses, for example, grew 41 percent, to $119.9 million from $85.1 million in the year-ago quarter. In addition, Walker mentioned that the company incurred higher than expected costs related to the company-wide meeting in Seattle, held during last quarter.

“During the meeting, we made some extra investments in training, particularly around the launch of Tableau 10,” Walker explained. “These expenses will not be recurrent in the second part of the year.”

During the conference call, CEO and co-founder of Tableau Christian Chabot said that more than 3,900 new customer accounts chose Tableau during the second quarter. Among these new customers are the California Department of Public Health, Bank of California and the City of New Orleans.

Tableau Software went public in May 2013 at an initial public offering price of $31 per share. At the New York Stock Exchange trading Tuesday, the company’s shares closed down 4 cents, or less than one percent, at $56.40.

A couple of hours after the announcement, the stock was down 65 cents, or 1.15 percent, at $55.75.

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