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MarketWatch MarketPulseJun 03, 2020
Cloudera pares Wednesday session gains after-hours on revenue outlook
Cloudera Inc. shares pared Wednesday gains in the extended session after the enterprise software company's revenue outlook fell short of the Wall Street consensus. Cloudera shares fell 8% after hours, following a 10% gain in the regular session to close at $12.40. Cloudera said it expects adjusted earnings of 6 cents to 7 cents a share on revenue of $206 million to $209 million for the second quarter, and 26 cents to 30 cents a share on revenue of $825 million to $845 million for the year. Analysts surveyed by FactSet expect earnings of 5 cents a share on revenue of $213.2 million for the second quarter, and 24 cents a share on revenue of $862.3 million for the year. "The business outlook is based on the assumption that the recessionary impact of the coronavirus pandemic (COVID-19) will peak in Cloudera's second and third quarters of fiscal 2021 and moderate in the fourth quarter of our fiscal 2021," the company said in a statement. The company reported a first-quarter loss of $58 million, or 20 cents a share, compared with a loss of $103.1 million, or 38 cents a share, in the year-ago period. Adjusted earnings were 5 cents a share. Revenue rose to $210.5 million from $187.5 million in the year-ago quarter. Analysts had forecast per-share break-even earnings on revenue of $204.9 million. "We executed extremely well in Q1, particularly as the pandemic was in full effect for more than half of our fiscal quarter," said Rob Bearden, Cloudera chief executive, in a statement. "We believe that remote working environments have placed heightened importance on data, data analysis and data security, which has increased the value of data architecture design and the criticality of hybrid cloud solutions."

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