Is Cloudera Getting Enough Out of Its Q2 Results and Guidance?
Cloudera top consensus earnings expectations, but the topline guidance disappointed.
When Cloudera Inc. (NYSE: CLDR) reported its fiscal second-quarter financial results after the markets closed on Wednesday, the tech firm said that it had $0.10 in earnings per share (EPS) and $214.3 million in revenue. Consensus estimates had called for $0.07 in EPS and $205.5 million in revenue. The same period of last year reportedly had a net loss of $0.02 per share and $198.29 million in revenue.
Management noted that the company achieved another major milestone last month with the general availability of Cloudera Data Platform Private Cloud (CDP), significantly advancing its Enterprise Data Cloud strategy,
Specifically, with CDP, the firm is participating in the fastest-growing segment of the market through cloud-native services. At least this is what management is saying. Uniquely, the firm also benefits from demand for hybrid and multi-cloud solutions that allow enterprises to optimize the performance, cost and security of workloads and use cases.
During the latest quarter, subscription revenue was $191.52 million and services revenue totaled $22.81 million, representing an increase of 16.7% and a decrease of 30.0% year over year, respectively.
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At the same time, annualized recurring revenue grew 12% year over year to $739 million.
On the books, Cloudera cash, cash equivalents and marketable securities totaled $431.5 million at the end of the quarter, up from $361.0 million at the end of the previous fiscal year.
Looking ahead to the fiscal third quarter, the company expects to see EPS in the range of $0.08 to $0.10 and total revenue of $207 million to $210 million. Consensus estimates call for $0.09 in EPS and $214.35 million in revenue for the coming quarter.
Cloudera stock traded down 8% to $11.84 on Thursday, in a 52-week range of $4.76 to $14.20. The consensus price target is $12.21.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
