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Cloudera shares plunge 15% after first quarterly report since IPO

  • Adj. Loss beat estimates: ($0.27) vs. ($0.35) estimate
  • Revenue beat estimates: $79.6 million vs. $75.8 million estimate
Tom Reilly, chief executive officer of Cloudera Inc.
Matthew Busch | Bloomberg | Getty Images
Tom Reilly, chief executive officer of Cloudera Inc.

Cloudera, a developer of software for managing and analyzing vast amounts of data, posted better-than-expected financial results in the company's first earnings report since its IPO.

That wasn't good enough for Wall Street. Cloudera shares plunged 15 percent after hours on Thursday, as key industry measures like deferred revenue and billings fell short of analysts' projections.

Cloudera, which went public in April, reported an adjusted loss of 27 cents per share, excluding items, on revenue of $79.6 million, a 41 percent increase from a year earlier. Analysts expected a loss of 35 cents on revenue of $75.8 million.

Cloudera's forecast also topped expectations. Revenue for the 2018 fiscal year will hit $345 million to $350 million, the company said, above the $338 million expected by a Thomson Reuters estimate.

But deferred revenue and billings fell short of Wall Street's forecasts, according to StreetAccount.

Founded by former executives of Oracle, Yahoo, Facebook and Google, Cloudera specializes in data science technology, using an open-source framework called Hadoop. The company faces what it calls "intense competition" from enterprise technology companies like IBM and Oracle and from cloud providers like Amazon and Microsoft.

As of Thursday's close, the stock had gained 53 percent since the IPO to $22.99. It fell to $19.60 in extended trading.

Watch: Cloudera CEO on valuation