Jive Software Beats Q3 Expectations, Soars 18%

Jive Software Inc (NASDAQ: JIVE) announced financial results Tuesday for its third quarter ended September 30, 2014. Total revenue for the third quarter was $46.6 million, beating expectations of $44.31 million and an increase of 25 percent on a year-over-year basis.

Within total revenue, product revenue was $42.2 million for the third quarter, an increase of 26 percent on a year-over-year basis. Professional Services revenue for the third quarter was $4.4 million, an increase of 14 percent on a year-over-year basis.

Non-GAAP net loss for the third quarter was $2.7 million, compared to a net loss of $7.3 million for the same period last year.

Non-GAAP net loss per share for the third quarter was $0.04, beating expectations of a $0.09 loss, based on 71.0 million weighted-average shares outstanding and compared to net a loss per share of $0.11 based on 68.2 million weighted-average shares outstanding for the same period last year.

"Jive generated solid third quarter results that exceeded the high end of our guidance range from both a revenue and profitability perspective," said Tony Zingale, Chairman & CEO of Jive Software.

Zingale added, "I'd like to congratulate Elisa Steele on her promotion to President of Jive. I look forward to working with her in my new role as Executive Chairman and believe her enthusiasm and passion for Jive and the enterprise collaboration market will be a tremendous benefit to the company."

Jive Software traded at $7.00 in the after-hours session, up 18.85 percent.