Jive Software (JIVE) Tops Q3 EPS by 3c
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Jive Software (NASDAQ: JIVE) reported Q3 EPS of $0.05, $0.03 better than the analyst estimate of $0.02. Revenue for the quarter came in at $50.7 million versus the consensus estimate of $49.76 million.
"Our performance in the third quarter exceeded guidance across the board," said Elisa Steele, CEO of Jive Software. "GAAP loss from operations for the third quarter was $603,000, which was a strong improvement of $8.2 million compared to one year ago. We delivered non-GAAP operating profitability of $3.8 million, which represents the second quarter in a row that we have accomplished this important milestone as a public company."
"We were pleased with our consistent sequential performance this quarter as we continued to execute on our strategies, build operational strength and optimize spend. As part of our disciplined go-to-market approach, we continue to target opportunities within the enterprise segment and further leverage Jive's leading Collaboration Hub strategy that increases the value of customers' investment in multiple vendors' business applications. As we position the company for the longer term, we are taking steps to deliver our future product vision of a digital workplace that connects employees, customers and partners in a single, virtual Collaboration Hub," said Steele.
"Our key focus is on execution for the remainder of the year. We are balancing our investments to lay the foundation for future growth as we maintain a disciplined cost structure to achieve our financial goals, while remaining profitable on a non-GAAP operating basis," concluded Steele.
For earnings history and earnings-related data on Jive Software (JIVE) click here.
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