Shares of Tableau spiked 14 percent in after-hours trading after the data analytics company beat analyst expectations for its fourth quarter earnings report.
The Seattle-based company posted revenue of $250.7 million, up 24 percent, and non-GAAP earnings per share of $0.26, down seven cents from last year. Wall Street expected $230 million in revenue and earnings of $0.13 per share.
Tableau added more than 4,000 new customer accounts during the quarter — it has 54,000 total — and closed 589 transactions more than $100,000, which is up 42 percent year-over-year.
“We are seeing strong demand from enterprises that want to deploy Tableau more broadly across their organization, from thousands to tens of thousands of users,” Tableau CEO Adam Selipsky, who took over for Christian Chabot late last year, said in a statement. “Our enterprise customers are making Tableau a mission-critical platform as data becomes more and more essential to their success.”
The Q4 performance is a rebound from the Q3 earnings report, which caused shares to dip more than 13 percent after Tableau missed revenue expectations. The company’s stock dropped nearly 50 percent in 2016.
Tableau continues to focus on the subscription-based version of its data visualization technology, Tableau Online, which expanded to the Amazon Web Services platform in November. Selling subscriptions, rather than perpetual licenses, lets Tableau make its products more available to a variety of organizations and easier to use for thousands of employees at large businesses.
Tableau reduced its headcount by 57 employees during Q4; it now employs 3,223 people. The company scaled back ambitious hiring plans last year.
Tableau also today announced a new executive hire, naming Dan Miller as the company’s new EVP of Worldwide Field Sales, Services, and Support. Miller is a longtime global tech sales veteran, with experience at companies like Oracle, Juniper Networks, HP, and Sun Microsystems.
“I’m looking forward to engaging with customers in their data transformation journey,” Miller said in a statement. “And I’m also excited to help take Tableau’s sales and services to the next level as we help enterprises and organizations of all sizes grow with the analytics power of Tableau.”
Miller replaces Kelly Wright, who joined Tableau as its first salesperson in 2005 and retired at the end of last year.
Here’s a look at Tableau’s stock over the past year: