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This is the second straight quarter that Teradata shares have skyrocketed on better-than-expected monetary outcomes.
Vladimir Timofeev/Dreamstime
Teradata
shares soared late Wednesday after the data-warehouse software program firm pre-announced better-than-expected outcomes for the March quarter, as the corporate continues to make progress on its push to shift extra of its enterprise to the cloud.
Shares of Teradata (ticker: TDC) was up 30%, to $51.90, in afternoon buying and selling.The firm will report full outcomes on May 6.
Teradata now sees GAAP earnings for the quarter of between 45 cents and 47 cents a share, forward of its earlier steerage vary of 11 cents to 13 cents. Teradata now expects adjusted earnings of 67 cents to 69 cents a share, revised from a earlier forecast of 38 cents to 40 cents. The firm additionally stated public-cloud annual recurring income progress within the quarter needs to be up between $16 million and $18 million, forward of its earlier forecast of $10 million to $15 million.
The firm stated income within the quarter can be similar to the $495 million reported in the 2020 fourth quarter, nicely forward of the Street consensus at $449 million. The firm stated it noticed energy “across all its revenue categories.”
Teradata stated it expects money move from operations within the quarter of no less than $105 million, with free money move of no less than $100 million.
This is the second straight quarter that Teradata shares have skyrocketed on better-than-expected monetary outcomes. In one four-day stretch in February after the corporate final reported earnings, the inventory almost doubled from $27 to virtually $54, once more pushed by indicators of success in Teradata’s push into the cloud.
Write to Eric J. Savitz at eric.savitz@barrons.com
