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,
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