Cloudera (CLDR) swings to profit in Q2 on strong revenue growth; results beat

Cloudera Inc. (NYSE: CLDR) reported profit for the second quarter of 2021 compared to a loss last year, aided by lower costs and higher revenues. The results exceeded analysts’ expectations. The company’s stock closed Wednesday’s regular trading lower and lost further during the extended session, soon after the announcement.

The company reported adjusted earnings of $0.10 per share for the quarter, compared to a loss of $0.02 per share in the second quarter of fiscal 2020. The market was looking for a lower profit. On an unadjusted basis, it was a loss of $0.12 per share in the most recent quarter, compared to a loss of $0.31 per share last year.

Total revenue came in at $214.3 million during the three-month period, representing an increase of 9% from the corresponding period of last year. Subscription revenue climbed 17% year-over-year, while annualized recurring revenue moved up 12%. The top-line also exceeded estimates.

“We achieved a major milestone last month with the general availability of Cloudera Data Platform Private Cloud, significantly advancing our Enterprise Data Cloud strategy. CDP offers a powerful hybrid architecture that separates compute and storage while maintaining data context for greater agility, ease of use and more efficient infrastructure consumption,” said Rob Bearden, chief executive officer of Cloudera.”