Data analytics company Tableau Software closed down 4.75 percent in Friday trading, despite reporting second-quarter results Thursday afternoon that bested expectations and initially pleased Wall Street.
Tableau posted Q2 revenue of $90.7 million and adjusted earnings per share of 5 cents. Analysts estimates suggested $79.88 million in revenue and a 4 cent share loss. The company also raised full-year 2014 revenue guidance, setting a new range of $366 million to $372 million.
Traders on StockTwits initially reacted positively to the solid numbers.
After-market prices on Thursday closed above $65 a share and shares were boosted 4 percent to $67.89 by Friday’s open. However, around 9:30 a.m. EST shares began to fall dramatically.
Traders began citing the positive numbers as reason for shares to appreciate, but the switch in direction, was confusing to many. Some users noted the company’s positive reviews from several analysts, including price-target boosts from Goldman Sachs and Deutsche Bank.
The change in course appears partially linked to Tableau’s plans to increase capital expenditure around the world in coming quarters. In the second quarter, international revenue accounted for 22 percent of the company’s total revenue. But continued global growth is a top priority as CEO Christian Chabot announced plans to relocate to London for a year on a post-earnings call with analysts.
Tableau shares are down 10 percent since the beginning of July, but remain above 11 percent over the past three months.