Teradata Q1 Profit Beats Estimates - Quick Facts

(RTTNews) - Teradata Corp. (TDC) reported first-quarter net income of $59 million, or $0.37 per share, compared to $59 million, or $0.35 per share, in the first quarter of 2013. Excluding stock-based compensation expense and the other special items, net income in the first quarter of 2014 was $87 million, or $0.54 per share.

On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.47 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $628 million from $587 million, last year. Analysts expected revenue of $614.59 million for the quarter. Teradata now expects full-year 2014 revenue to grow at the lower end of its previous 3-7 percent guidance range. Teradata also expects 2014 non-GAAP earnings per share to be at the lower end of the $2.85-$3.00 range. Analysts expect the company to report 2014 profit per share of $2.93.

On May 5, 2014, Teradata's Board authorized an additional $300 million to be utilized to repurchase Teradata common stock under its open market share repurchase program. Teradata now has a total of approximately $550 million authorized for share repurchases under its share repurchase program. The increased share repurchase authorization is effective immediately and the program, which was extended three years, now expires on May 8, 2017.