NEW YORK () -- Tableau Software ( - ) stock is retreating 10.59% to $45.58 on heavy trading volume on Friday afternoon even though the company reported 2016 first quarter financial results that topped estimates after yesterday's market close.
Shares are falling because the analytics software provider's license revenue increased just 14% year over year to $96.4 million for the first quarter, down from a 31% rise for the 2015 fourth quarter, CNBC reports.
"Tough comparisons and more measured expansion with existing customers adversely affected license trends," Pacific Crest analysts said in a note released this morning. "License...
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