Cloudera (CLDR) Q1 Loss Narrows, Shares Down On Dim '20 View
Zacks Investment Research | Jun 05, 2019 11:01PM ET
Cloudera (NYSE:CLDR) reported first-quarter fiscal 2020 adjusted loss of 13 cents per share, narrower than the Zacks Consensus Estimate of a loss of 23 cents and the year-ago quarter’s loss of 18 cents.
Revenues of $187.5 million surged 81.2% year over year but lagged the consensus mark of $188 million. Adjusted annualized recurring revenues (ARR) were $672 million, up 21% year over year. Customers with annualized recurring revenues greater than $100,000 were 929.
Management stated that the upcoming launch of Cloudera Data Platform prompted some enterprise customers to delay renewals and extension of contracts, thereby negatively impacting fiscal 2020 outlook.
Shares were down a massive 35.6% in pre-market trading.
Moreover, Cloudera also announced that current CEO Tom Reilly will retire on Jul 31, 2019. The board of directors has appointed Martin Cole, the chairman of the board, as the interim CEO.
Quarter Details
The year-over-year growth in revenues was driven by 78.5% jump in subscription revenues (85.1% of revenues) that totaled $154.8 million. Moreover, services (17.4% of revenues) rallied 95.4% year over year to $32.6 million.
Cloudera, Inc. Price, Consensus and EPS Surprise
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