Cloudera (CLDR) 2020 Q4 Earnings Results

Cloudera Inc (NYSE:CLDR) was established in 2008 by three former engineers of Yahoo, Facebook, and Google. The company offers a suite of enterprise software for private and public cloud platforms. Its products range from data processing software and machine learning tools to data analytics and data handling applications. Cloudera went public in 2017 by pricing its shares at $15 apiece.

The Palo Alto, California-based software company recently announced better-than-expected financial results for the fourth quarter. It reported adjusted earnings of 15 cents per share for the three months ended January 31, well above 4 cents per share in the comparable period of 2020. Analysts on average were expecting Cloudera to report earnings of 11 cents per share.

Revenue came in at $226.6 million, up 7 percent from the year-ago quarter, and above the consensus forecast of $221.4 million. Subscription revenue in the quarter jumped 14 percent on a year-over-year basis to $206.8 million.

Speaking on the results, CEO Rob Bearden said in a statement, “Customers migrating to CDP increased from about 10% of our customer base at the time we reported Q3 to more than 15% of our customer base today. Most impressively, ARR from CDP now exceeds $60 million of total ARR. The adoption of CDP for hybrid data cloud and data lifecycle use cases is what will drive future growth and we’re very happy with this progress to date.”

Looking forward, Cloudera expects to report adjusted earnings in the range of 7 cents per share to 9 cents per share for the first quarter, above analysts’ average estimate of 2 cents per share. However, its Q1 revenue outlook of $216 million to $218 million was below the consensus forecast of $227 million.

Cloudera shares plummeted about 13 percent on Thursday apparently over the weak revenue outlook.

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