In 2016, Tibco’s revenues were about $2.8 billion.
But this year, that number is expected to fall as it tries to fend off a major competitor, Amazon, which is now the third-largest cloud provider in the world.
In the fourth quarter, TibCo expects its revenues to drop by about a third to $1.9 billion.
That’s the result of competition from Amazon’s growing cloud services, said Tim Leach, Tibcorp’s president.
Tibcorps’ revenue from cloud services fell to about $1 billion in the fourth-quarter, compared with about $3.2 billion a year earlier, Leach said in an interview.
“Amazon’s not making us any money, and that’s not fair to our customers.
We are competing with a lot of people that we don’t want to compete with,” Leach added.
Tibco is in a battle for its own customers, Lech said.
Amazon’s customers are a very different customer base than Tibcor’s customers, and Tibcorco is not really competing with them.
Amazon, a company that’s been on the cloud for almost 20 years, is gaining market share, said John Coyle, a managing director at research firm Gartner.
Tibscorp is a little bit ahead of its competition in terms of its ability to generate revenue, he said.
The big question is whether Tibcors ability to do that will be sustainable in the long run, he added.
“I think they’ll be back in the $2 billion range again, and then you’ll start seeing Amazon start to catch up,” Coyle said.
Tibcores cloud-based data is stored on servers in other countries, meaning that customers of Tibcor can’t see Tibco servers on the outside.
That makes Tibco vulnerable to attacks on its data that could potentially harm its customers, including hackers, said Jason D’Arcy, an analyst with Gartners.
Tibcos data is also vulnerable to hackers because it’s not encrypted.
That means that anyone can break into the servers and see what Tibcor data is storing and accessing.
TibCorp said it has a strong security posture to mitigate these attacks, and it will be transparent about how it plans to protect data, including how it stores data.
TibCo did not immediately respond to a request for comment.
Tibs cloud business was not affected by the recent attack, Tibcos spokeswoman Anna Lins said in a statement.
TibCORP is part of the Tibco family, which includes Tibcor, a technology services provider, TibCO, and its subsidiary Tibcor.
TibCorps’ revenues in 2016 were about 2.5 percent of Tibcos total revenues.
TibCO said in the statement that it plans a “massive restructuring and expansion” that will include its acquisition of TibCO and its expansion into cloud services.
The company is looking to reduce its headcount by more than half to about 2,300 employees, it said.