Cloudera Jumps as Earnings Top Estimates

Cloudera shares rose as the company's earnings beat Wall Street estimates and it boosted its share buyback plan by $500 million.
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Cloudera  (CLDR) - Get Report shares were higher after the data-management company reported better-than-expected fiscal third-quarter results and lifted its share-buyback plan by $500 million. 

The Palo Alto, Calif., company posted adjusted net income per share of 15 cents compared with a net loss of 3 cents a share for the year-earlier quarter. Revenue came in at $217.9 million against $198.3 million. 

The company had been expected to report net income of $29.2 million, or 9 cents a share, on sales of $209.1 million, based on a FactSet survey of 13 analysts.

The company had offered earnings guidance of 8 to 10 cents a share on Sept. 3. The shares had fallen 3.7% since then.

The company offered fourth-quarter guidance for revenue of $219 million to $222 million and non-GAAP net income per share of 10 cents to 12 cents.

For fiscal year 2021, the company forecast revenue between $862 million and $865 million and non-GAAP net income of 40 cents to 42 cents a share.

Cloudera shares rose 8.8% to $12.60 at last check in after-hours trading. In the regular session, the stock gained 3.4%. 

Cloudera "has never been better-positioned to capture more of the rapidly growing data management and analytics market opportunity for hybrid multi-cloud solutions," said Rob Bearden, chief executive, in a statement.

Elsewhere, in the regular trading session among notable small- and medium-cap stocks in the cloud sector, 13 rose while 6 fell.

Zscaler  (ZS) - Get Report shares rose $38.82, or 27%, to $185.61 after better-than-expected earnings.

Zscaler was recently profiled by Real Money's in-house technical analyst. To find out more about from this and other stocks that were recently analyzed, please click here

Splunk  (SPLK) - Get Report shares fell $47.88, or 23%, to $158.03 after reporting disappointing results on Wednesday.

Splunk is one of the companies Jim Cramer and the Action Alerts PLUS team are keeping an eye on. To find out more about why Jim Cramer and his team are thinking about the stock, please visit RealMoneyPro.com.

The Global X Cloud Computing ETF  (CLOU) - Get Report rose 42 cents on the day, or 1.66%, to $25.77.

The First Trust Cloud Computing ETF  (SKYY) - Get Report rose 58 cents, or 0.65%, to $89.98.