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What: Shares of Jive Software (NASDAQ:JIVE) have fallen flat today, down by 22% at the low, after the company reported earnings and provided weak guidance.

So what: Revenue in the second quarter came in at $35.2 million, roughly in line with the consensus estimate. The non-GAAP net loss of $0.14 per share was slightly better than the $0.16 per share adjusted loss that investors were expecting. CEO Tony Zingale acknowledged some execution challenges and a longer sales cycle.

Now what: Guidance for the third quarter calls for sales in the range of $36 million to $37 million, which should translate into an adjusted loss of $0.14-$0.16 per share. The market was expecting over $38 million in revenue. Full-year revenue should be in the range of $144 million to $146 million.

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Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.