Fourth quarter revenue to Cloudera lost expectations. This made Cloudera plunge this Thursday. The program developer offered a grim outlook for future growth as well.
Revenues of $ 144.52 million, beat expectations of $ 120.97 million.
Estimates made by Investing.com for a loss of $ 0.11 per share fell down because Cloudera (NYSE: CLDR) reported a loss of $ 0.15 per share.
Her shares fell 17%.
Cloudera’s CEO Tom Reilly announced in October that he was joining Hortonworks competitor in a $ 5.2 billion union to take the expense and pave the way for profit. Reilly said that while the two teams have combined, there are still “administrative and other developments in the works”.
After finishing the merger with Hortonworks on January 3, and the software developer said it would turn its attention to meeting the demand from enterprise customers for a cloud of enterprise data.
According to Morgan Stanley (NYSE: MS), the integration process is likely to take time and may experience short-term pain but long-term profit for the company.
Morgan Stanley said: “We see long-term potential, but we remain equal in weight (in Cloudera) given a great effort of integration ahead.”
For fiscal 2020, Cloudera led a loss in the range of $ 0.36 to $ 0.32 per share in revenue from $ 835 million to $ 855 million./Investing.com