Cloudera Q3 Results Top Wall Street

(RTTNews) - Cloudera Inc. (CLDR) Wednesday said its third-quarter loss narrowed from a year ago, as revenues jumped 25%. Both adjusted loss and revenues trumped Wall Street estimates.

Cloudera's third-quarter loss narrowed to $26.5 million or $0.17 per share from $55.3 million or $0.40 per share last year.

Adjusted loss for the quarter were $0.03 per share, narrower than last year's $0.17 per share. On average, 15 analysts polled by Thomson Reuters estimate loss of $0.11 per share for the quarter.

Total revenue for the third quarter rose 25% to $118.2 million from $94.6 million last year. Analysts had a consensus revenue estimate of $113.88 million for the quarter.

Subscription revenues was $99.7 million, an increase of 28% from $78.1 million a year ago.

"We are pleased with our execution in Q3 and our progress on the strategic combination we have announced with Hortonworks. Pre-closing merger integration planning is going well. And more importantly, we are very encouraged by the reception that our plans are receiving from customers, partners and the developer community," said Tom Reilly, chief executive officer.

Looking forward to the fourth quarter, Cloudera expects revenues of $119 million to $122 million and adjusted loss of $0.12 to $0.10 per share. Analysts currently estimate loss of $0.14 per share on revenues of $119.70 million.

For the full year 2019, the company expects total revenues of $450 million to $453 million and adjusted loss of $0.40 to $0.38 per share.

CLDR closed Wednesday's trading at $11.59, down $0.72 or 5.85%, on the Nasdaq.