Why Qlik Technologies' Shares Soared

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of business intelligence specialist Qlik Technologies (Nasdaq: QLIK  ) have soared by as much as 22% today after the company reported earnings.

So what: Second-quarter sales totaled $85.8 million, of which $50 million was license revenue. Adjusted earnings per share came in at $0.02, a penny higher than Wall Street's forecasts. CEO Lars Bjork said the results fell short of internal expectations, yet investors are still cheering.

Now what: The company also provided better-than-expected revenue guidance, which could explain the optimism today. Third-quarter sales should range from $87 million to $90 million, which looks pretty nice compared to the consensus of $87.2 million. Full-year revenue is expected in the range of $376 million to $386 million, the midpoint of which tops the consensus of $377.3 million.

Interested in more info on Qlik Technologies? Add it to your watchlist by clicking here.

Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of Qlik Technologies. The Motley Fool has a disclosure policy.

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