Cloudera Raises Annual Forecast Following Quarterly Earnings Beat
DOW JONES & COMPANY, INC. 5:24 PM ET 12/7/2017
Software company Cloudera Inc.(CLDR) boosted its forecast for the year as it delivered revenue and growth in subscription customers ahead of expectations in its latest quarter.
Shares rose 5%, to $16.85, in after-hours trading.
The company, which went public in May and has yet to post a profit, now projects an adjusted loss of 82 cents to 84 cents a share on $361 million to $363 million in revenue, with $297 million to $299 million coming from subscriptions. Previously, the company had forecast an adjusted loss of 93 cents to 95 cents a share on $355 million to $360 million in revenue, with $290 million to $295 million coming from subscriptions.
On Thursday, Chief Executive Tom Reilly said the company was making progress "as we march toward operating cash flow break-even."
Operating cash flow in the most recent period was negative $2.4 million, compared with negative $32.5 million in the year-ago period. For the year, the company now expects to report operating cash flow negative $45 million to negative $ 50 million, compared with its earlier view of negative $60 million to negative $65 million.
Founded in 2008, Cloudera(CLDR) got a big investment from Intel Corp., part of Intel's push to maintain its dominance of the market for data-center servers. Big-data software, such as Cloudera's(CLDR), helped drive the use of chips, as companies needed more processing power to mine troves of information. Intel's investment drove Cloudera's(CLDR) valuation to $4.1 billion. As of Thursday's closing, Cloudera's(CLDR) market capitalization stood at $2.15 billion.
Overall, Cloudera(CLDR) on Thursday reported a third-quarter loss of $55.3 million, or 40 cents a share, compared with $44 million, or $1.20 a share, a year earlier. Excluding stock-based compensation and other items, the loss narrowed to 17 cents a share from 34 cents a share a year earlier. Revenue surged 41%, to $94.6 million. Cloudera(CLDR) had projected an adjusted loss of 23 cents to 25 cents a share on $90 million to $92 million in revenue.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
12-07-171724ET
Copyright (c) 2017 Dow Jones & Company, Inc.
DOW JONES & COMPANY, INC. 5:24 PM ET 12/7/2017
Software company Cloudera Inc.(CLDR) boosted its forecast for the year as it delivered revenue and growth in subscription customers ahead of expectations in its latest quarter.
Shares rose 5%, to $16.85, in after-hours trading.
The company, which went public in May and has yet to post a profit, now projects an adjusted loss of 82 cents to 84 cents a share on $361 million to $363 million in revenue, with $297 million to $299 million coming from subscriptions. Previously, the company had forecast an adjusted loss of 93 cents to 95 cents a share on $355 million to $360 million in revenue, with $290 million to $295 million coming from subscriptions.
On Thursday, Chief Executive Tom Reilly said the company was making progress "as we march toward operating cash flow break-even."
Operating cash flow in the most recent period was negative $2.4 million, compared with negative $32.5 million in the year-ago period. For the year, the company now expects to report operating cash flow negative $45 million to negative $ 50 million, compared with its earlier view of negative $60 million to negative $65 million.
Founded in 2008, Cloudera(CLDR) got a big investment from Intel Corp., part of Intel's push to maintain its dominance of the market for data-center servers. Big-data software, such as Cloudera's(CLDR), helped drive the use of chips, as companies needed more processing power to mine troves of information. Intel's investment drove Cloudera's(CLDR) valuation to $4.1 billion. As of Thursday's closing, Cloudera's(CLDR) market capitalization stood at $2.15 billion.
Overall, Cloudera(CLDR) on Thursday reported a third-quarter loss of $55.3 million, or 40 cents a share, compared with $44 million, or $1.20 a share, a year earlier. Excluding stock-based compensation and other items, the loss narrowed to 17 cents a share from 34 cents a share a year earlier. Revenue surged 41%, to $94.6 million. Cloudera(CLDR) had projected an adjusted loss of 23 cents to 25 cents a share on $90 million to $92 million in revenue.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
12-07-171724ET
Copyright (c) 2017 Dow Jones & Company, Inc.
