Tableau Software shares rise on strong subscription sales

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(Reuters) – Tableau Software Inc (DATA.N) reported better-than-expected results for the second quarter on Wednesday, sending its shares up as much as 6 percent after the bell.

The Seattle-based big data software company reported diluted non-GAAP earnings of 10 cents per share for the quarter ended June 30, beating analysts’ average expectation of a 5-cent loss per share, according to Thomson Reuters data.

Revenue rose 7 percent to $212.9 million from the same period last year.

Subscription annual recurring revenue increased 175 percent to $103 million.

In April, Tableau adopted a new subscription pricing model for its data-visualization products, which lets customers pay per-month prices instead of fronting the full cost of a permanent software license.

The new pricing has driven up demand for Tableau’ products, according to Zane Chrane, an analyst with Bernstein Research.

Tableau, which makes software that turns complicated data into graphics that can be easily analyzed, had one of the most highly expected IPOs of 2013.

The company’s stock has surged 52 percent in 2017.