Despite Solid Growth, Tableau Stock Drops After Company Posts Q3 Results
Results miss analysts’ expectations as company transitions from perpetual licensing to subscription.
Last week Seattle-based Tableau Software (NYSE: DATA) reported its third quarter financials for the period ended September 30, 2017. While the company cited strong subscription demand and annual recurring revenue growth for the quarter, it missed analyst expectations for revenue and profit, due to the shift from a licensing model to a subscription model, according to Barron’s. The Q3 results caused Tableau stock to drop from $82.17 per share last Thursday to $70.27, as of 4:40 p.m. Eastern on Tuesday.
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