The Lineup of Tableau Customers Is Strong, With Likes of DuPont (DD), Coca Cola (KO), Wells Fargo (EFC) and UnitedHealth Group (UNH)
Tableau Software Inc (NYSE:DATA) is not only growing rapidly, but the company has also proven that its growth has much-needed staying power. The company smashed consensus estimates in the latest quarterly report and also moved to issue current quarter projections above view. Tableau Software enjoys both a rapidly growing customer base and strong customer loyalty, which can be linked to its soaring new account additions.
For the first quarter 2015, Tableau Software Inc (NYSE:DATA) posted adjusted earnings of $0.08 a share, better than a $0.03 a share loss that analysts estimated. Revenue rose 75% to $130.1 million, topping the consensus estimate of $115.3 million.
The company expects 2nd quarter revenue in the band of $135-$140 million, compared with a consensus estimate of $131.1 million.
Tableau Software Inc (NYSE:DATA) closed the first quarter with 29,000 customers, having added 2,600 new accounts during the quarter, more than 1,800 during the previous quarter. The company raised its customer base from just about 4,400 in 2010 to more than 26,000 at the end of 2014.
The fact that Tableau Software Inc (NYSE:DATA)’s business model is both strong and sustainable can be seen in the rapid growth of its client base and the prominence of those customers. The company counts big names like Coca-Cola Company (NYSE:KO), Wells Fargo & Co (NYSE:WFC) and Facebook Inc (NASDAQ:FB) among its clients. Other prominent names on the list of Tableau’s clients are UnitedHealth Group Inc. (NYSE:UNH) and E I Du Pont De Nemours And Co (NYSE:DD)
The company’s easy-to-read data analytics and visualization solutions make it the preferred partner for many companies. Tableau Software Inc (NYSE:DATA) enjoys strong customer loyalty with renewal rates of more than 75%.
Tableau obtained 23% of its revenue from outside the U.S. in 2014, representing a growth of more than 100% from the previous year and being nearly $94 million in value. The company does business in some 150 counties and expansion abroad is part of the strategic plan for more growth.
The company competes with the likes of Microsoft Corporation (NASDAQ:MSFT), the International Business Machines Corp (NYSE:IBM) and Oracle Corporation (NYSE:ORCL). Tableau has adequate cash to invest in product innovation and development in addition to sales expansion.
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