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Tableau Software falls 12% after mixed earnings report

A woman takes pictures of the New York Stock Exchange, which has a Tableau Software banner on its facade, May 17, 2013.
Brendan McDermid | Reuters
A woman takes pictures of the New York Stock Exchange, which has a Tableau Software banner on its facade, May 17, 2013.

Tableau Software plummeted 12 percent on Wednesday, after the company posted revenue that missed expectations on Tuesday.

The company posted adjusted earnings of 16 cents per share, beating estimates for 7 cents a share. However, its revenue was a bit light, coming in at $206 million, versus expectations for $214 million, according to a consensus estimate from Thomson Reuters.

In its press release, Tableau chairman and co-founder Christian Chabot said the company's results were "impacted by extended sales cycles on large deals in the U.S. and softness in (international markets)."

Analysts at Rosenblatt Securities said in a note Tuesday that the company's earnings beat was primarily due to much lower commissions paid out in the quarter after the "topline miss." The revenue miss was "all on the license line, with license revenues of $116.7 million coming in nearly $10 million below our estimate."

In addition to reporting earnings, the board authorized the repurchase of up to $200 million of Tableau's common stock. The repurchase authorization does not have a fixed expiration and may be modified, suspended or discontinued at any time.

Year-to-date, the software company's stock is down more than 53 percent.

—Reuters contributed to this report.