Cloudera Inc. (NYSE: CLDR) reported a narrower loss in the first quarter of 2021 driven by lower costs and expenses as well as higher revenue. The results exceeded analysts’ expectations.
The top-line increased by 12% year-over-year backed by higher subscription revenue. Annualized Recurring Revenue grew 11% year-over-year. The company believes that remote working environments have placed heightened importance on data, data analysis, and data security, which has increased the value of data architecture design and the criticality of hybrid cloud solutions.
Looking ahead into the second quarter of fiscal 2021, the company expects total revenue in the range of $206-209 million and adjusted earnings in the range of $0.06-0.07 per share. For fiscal 2021, the company predicts total revenue in the range of $825-845 million and adjusted earnings in the range of $0.26-0.30 per share.
The business outlook is based on the assumption that the recessionary impact of the coronavirus pandemic (COVID-19) will peak in Cloudera’s second and third quarters of fiscal 2021 and moderate in the fourth quarter of our fiscal 2021.