(Reuters) - Business software makers Informatica Corp and Qlik Technologies Inc reported better-than-expected quarterly revenue as enterprises spent more on integrating and analyzing data, sending their shares up in extended trading.
While tech spending has been weak and traditional software companies have suffered, companies that make software to manage, process and analyze data have found favor as customers look to mine data for real time answers to their problems, boosting efficiency and cutting costs.
Qlik posted a smaller-than-expected quarterly loss as license sales jumped 14 percent, and raised its full-year outlook.
“We continue to benefit from sales process improvements ..., expanded service and support offerings, and ongoing momentum across our partner network,” Qlik’s CEO Lars Björk said.
Qlik raised its 2013 profit forecast range by 2 cents per share and now expects 41 cents to 44 cents per share. It also raised its full-year revenue range by $6 million and expects revenue of $471 million to $481 million.
Qlik shares rose 8 percent to $26.6 in trading after the bell. They closed at $23.85 on the Nasdaq on Thursday.
The company’s net loss widened to $13.2 million, or 15 cents per share, in the first quarter from $7.5 million, or 9 cents per share, a year earlier. Excluding items, the company posted a loss of 9 cents per share.
License revenue for the first quarter rose to $52.7 million. Total revenue rose 22 percent to $96.5 million.
Analysts on average had expected an adjusted loss of 12 cents per share on revenue of $91.3 million, according to Thomson Reuters I/B/E/S.
The company’s peer, Informatica Corp, which makes software to help companies integrate data from various sources, reported a 15 percent increase in its services business, sending its shares up 6.5 percent to $34.5 after hours.
Informatica’s total revenue of $214.3 million was ahead of analysts’ estimates of $202.2 million.
Reporting by Sayantani Ghosh in Bangalore; Editing by Don Sebastian