Cloudera Inc (NYSE: CLDR) is having an overwhelmingly strong start to the trading session this morning after the company reported its earnings for the second quarter. The financial results beat expectations, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about:
- The earnings report;
- what we’re seeing from CLDR stock as a result; and
- what we’ll be watching for ahead.
CLDR Reports Financial Results
As mentioned above, Cloudera is having an incredibly strong start to the trading session this morning after the company reported better than expected second quarter financial results. Here’s what we saw from the report:
- Loss – During the quarter, the company reported a loss of $33.4 million, which works out to $0.22 per share. After adjustments, the loss came to $0.08 per share, showing strong growth from the loss of $0.17 reported last year and well ahead of analyst expectations of a loss of $0.15 per share.
- Revenue – Revenue also proved to be a strong point for CLDR. The company said that it generated sales of $110.3 million, representing strong growth from $89.8 million in the same quarter one year ago. The figure also beat analyst expectations of $107.7 million.
- Guidance – Finally, the company increased its guidance for the full year. It now expects for revenue to come in between $440 and $450 million and an adjusted full year loss of between $0.50 per share and $0.53 per share. Previously, the company expected to report a loss of between $0.59 and $0.62 per share on revenue of between $435 and $445 million.
In a statement, Tom Reilly, CEO at CLDR, had the following to offer:
In Q2 we made substantial progress in our product and go-to-market transitions, delivering strong financial results in the quarter and accomplishing many of our goals for sustained success in our market… We continue to innovate in highly differentiating ways. With three new modern data warehouse offerings, we are well-positioned to disrupt the legacy data warehouse industry.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Cloudera, the news proved to be overwhelmingly positive. After all, the company reported strong financial results and set the stage for more growth in the quarters and years ahead. So, it comes as no surprise to see that excited investors are sending the stock on a run for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:20), CLDR is trading at $17.67 per share after a gain of $3.26 per share or 22.62% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CLDR. In particular, we’re interested in following the company’s continued growth as its second quarter proved to be an overwhelmingly strong one. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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