Cloudera’s (NASDAQ: CLDR) bottom and topline results for the third-quarter 2020 beat the market estimates. The enterprise data cloud company posted an adjusted loss of $0.03 per share on revenue of $198.3 million. The market had projected Cloudera to post a loss of 6 cents per share on revenue of $189.5 million. CLDR stock was up about 5% during the after-market session.
Cloudera’s GAAP net loss per share for the third quarter of fiscal 2020 was $0.29 per share compared to a GAAP net loss per share of $0.17 per share for the third quarter of fiscal 2019. Subscription revenue grew to $166.9 million in the three months ended October 31, 2019, from $100.8 million in the prior-year quarter.
Customers with Annualized Recurring Revenue (ARR) greater than $100,000 were 977, up 24 from the prior quarter. Annualized Recurring Revenue grew 13% year-over-year to $697.4 million in the recently ended quarter.
For the fourth quarter of fiscal 2020, non-GAAP net loss per share is expected to be in the range of $0.04 to $0.02 per share. Total revenue is touted to be in the range of $200 million to $203 million and subscription revenue is expected to be in the range of $173 million to $176 million.
For fiscal 2020 ending January 31, 2020, Cloudera expects non-GAAP net loss per share to be in the range of $0.21 to $0.19 and total revenue in the range of $782 million to $785 million. Subscription revenue is eyed in the range of $659 million to $662 million.
Cloudera stock had lost 10% of its value so far this year, while it advanced 20% in the past three months.
Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to
Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming
The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related