Hortonworks (HDP) Stock Surging in After-Hours Trading on Earnings Beat

NEW YORK (TheStreet) -- Shares of Hortonworks (HDP) are higher by 9.91% to $23.95 in after-hours trading on Tuesday, following the release of the Hadoop solutions provider and distributor's 2015 first quarter earnings results, which improved year-over-year and were better than what analysts were expecting for the period.

The company's adjusted non-GAAP net loss was $32 million, or a loss of 77 cents per diluted share, compared to the net loss of $15.7 million, or $4.08 per diluted share for the 2014 first quarter.

Analysts were expecting a loss of 86 cents per share for the 2015 first quarter.

Total revenue for the latest quarter was $22.8 million versus the $18 million analysts had forecast.

"We are pleased with our first quarter performance which was highlighted by strong revenue growth and the addition of 105 new support subscription customer logos," company CEO Rob Bearden said in Hortonworks' earnings report.

"This brings our support subscription customer base to over 400 and represents over 200% year-over-year growth in our customer base. Coupled with our 143% dollar-based net expansion rate over the trailing four quarters, it is becoming more evident that our land and expand strategy is leading to rapid Hadoop adoption across many enterprise organizations," Bearden added.

Hadoop is an open-source software framework used to store and process large data in a distributed manner on big batches of commodity hardware.

HDP Chart HDP data by YCharts

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