Cloudera Inc. (CLDR) , a little-known small-cap cloud software company, blew earnings estimates out of the water, sending the stock up 11.69% to $12.94 a share on Thursday.
The $1.79 billion market cap company reported a much narrower third-quarter loss than expected. Net loss per share was an adjusted 3 cents, compared to analysts' estimates of 11 cents, a surprise to the upside of 73%. The GAAP loss in the quarter was $26.5 million. Sales came in at $118.18 million, beating estimates of just above $113 million.
"We are pleased with our execution in Q3 and our progress on the strategic combination we have announced with Hortonworks," said CEO Tom Reilly. Cloudera announced in October it was buying Hortonworks Inc. (HDP) , another software company, for . "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," Reilly said.
Cloudera issued guidance for the fourth quarter ending Jan. 31, saying it expects revenue of between $119 million and $122 million, representing a 17% year-over-year increase. The company expects a loss per share of 10 cents to 12 cents.
Meanwhile, Hortonworks was rising 10.96% to $16.81 on its soon-to-be parent's earnings print.
Cloudera stock, which has whipsawed around this year, has fallen 23.88% year to date.