Tableau Software Inc (NYSE: DATA) rose after reporting a fourth quarter earnings beat. Adjusted earnings came in at 12 cents per share, topping estimates by nine cents. Sales came in at $294 million, $8 million ahead of estimates
Total revenue in the fourth quarter was $249.4 million, down 1% year over year. Ratable license bookings were 51% of total license bookings, compared to 20% in the fourth quarter of 2016
Full-year total revenue increased 6% to $877.1 million, up from $826.9 million in 2016. Total annual recurring revenue increased 45% to $596.2 million, up from $411.2 million at the end of the fourth quarter of 2016.
Subscription annual recurring revenue increased 235% to $195.5 million, up from $58.4 million at the end of the fourth quarter of 2016.
During the fourth quarter, Tableau repurchased 284,851 shares of the Company's outstanding Class A common stock for a total of $20.0 million. As of December 31, 2017, the Company was authorized to repurchase a remaining $100 million of its Class A common stock under the previously authorized repurchase program.
According to CEO Adam Selipsky, "customers continued to embrace our subscription offerings in the fourth quarter with over half of our license bookings now recognized ratably.
"With the lower upfront cost and reduced risk that subscription licensing offers to customers, a record number of organizations are turning to Tableau as the mission-critical analytics platform for their data needs."
Shares galloped $6.67, or 8.7%, to approach noon ET Friday at $83.76.