Cloudera Inc. shares got a big boost in the extended session Thursday after the enterprise software company’s third-quarter revenue and adjusted earnings beat expectations.
Cloudera
CLDR,
shares climbed as much as 10.5% after hours, after rising 3.5% in the regular session to close at $11.58.
The company reported a loss of $13.95 million, or 4 cents a share, compared with a loss of $82.1 million, or 29 cents a share, in the year-ago period. Adjusted earnings were 15 cents a share, adjusted for stock-based compensation and more. Revenue rose to $217.9 million from $198.3 million in the year-ago quarter. That’s a 10% increase, compared with an 18% increase year over year in third-quarter subscription revenue, which was up to $197.4 million.
Analysts surveyed by FactSet had forecast earnings of 9 cents a share on revenue of $209.1 million.
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In a statement, Chief Executive Rob Bearden partly attributed the company’s strong quarter to a 40% increase in paying customers for its customer-data platform public cloud offering.
“We believe that Cloudera has never been better-positioned to capture more of the rapidly growing data management and analytics market opportunity for hybrid multi-cloud solutions,” Bearden said.
Cloudera expects fourth-quarter non-GAAP earnings of 40 cents to 42 cents a share on revenue of $219 million to $222 million, while analysts had forecast 10 cents a share on revenue of $216 million.
The company also announced that it will repurchase up to $500 million of its stock.
The Palo Alto, Calif.-based company’s shares are down about 1% so far this year, compared with the S&P 500 Index
SPX,
which is up more than 13% year to date.