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Cloudera Reports Stronger-Than-Expected Results

Cloudera CLDR, the data-analytics-software provider, reported fiscal-second-quarter results that beat Wall Street expectations.
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Cloudera  (CLDR) - Get Cloudera, Inc. Report, the data-analytics-software provider, reported fiscal-second-quarter results that beat Wall Street expectations.

For the quarter ended July 31, the Santa Clara, Calif., company shrank its net loss shrank to 11 cents a share from 12 cents a share in the year-earlier quarter.

Adjusted earnings per share climbed to 15 cents from 10 cents. The latest figure bested the consensus analyst forecast of 10 cents derived from a FactSet survey.

Revenue of $236.1 million rose 10%. The figure topped the FactSet analyst consensus of $226.8 million.

Cloudera recently traded at $15.94, little changed. It has gained 24% over the past three months.

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In June, private-equity titans KKR  (KKR) - Get KKR & Co. Inc. Class A Report and Clayton Dubilier & Rice agreed to purchase Cloudera for about $5.3 billion.

Strong annual recurring revenue growth was driven by continued adoption of the Cloudera data platform hybrid and multicloud solution set," Rob Bearden, chief executive of Cloudera, said in a statement.

The executive also said holders approved the transaction with CD&R and KKR, "which we believe will accelerate our hybrid data cloud strategy and enable further investment in product innovation."

Meanwhile, Cloudera said that Chief Financial Officer Jim Frankola will shift to a new position, strategic adviser, after the CD&R and KKR deal closes.

Kevin Cook, currently senior vice president of finance, will succeed Frankola as CFO. And Chief Product Officer Arun Murthy departed Cloudera.