Shares of business software company Tibco Software Inc. plunged Monday after Goldman Sachs downgraded the company on difficult economic conditions in the first half of 2008.
Tibco Software projected that its Q3 revenue will be in the range of $130-133 million and EPS will be in the range of 3-4 cents. The company had earlier announced that it expects its Q3 revenue to be in the range of $136-142 million. The Q3 guidance from the company falls short of analysts’ expectations who were expecting EPS of 7 cents and revenue of $140 million.
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