Hortonworks: Hadoop Distributor Jumps 8% on Q4 Beat
Softwaredistributor Hortonworks (HDP), which supports the Hadoop data mining program, this afternoon reported Q4 revenue that topped analysts’ expectations, and a smaller-than-expected net loss, sending its shares surging in late trading.
Revenue in the three months ended in December rose 39%, year over year, to $52 million, yielding a net loss of 50 cents, excluding some costs.
That was better than consensus for $48 million and a 60-cent loss.
Hortonworks’s deferred revenue rose 18%, quarter to quarter, to a total of $185.4 million.
On a GAAP basis, net loss would have been 94 cents per share.
For the current quarter , the company sees revenue of $52 million, in line with consensus. For the full year , the company sees revenue of $235 million to $240 million, better than consensus for $234.7 million.
CEO Rob Beardendrew attention to the double-digit rise in support subscription revenue in the quarter, “clearly showing continued strong market demand for our open source platforms.”
Added Bearden, “The combination of enterprise customers’ accelerating business transformations fueled by data and our continued financial discipline positions Hortonworks extremely well for growth and success in 2017.”
The stock briefly surged by 13% and is currently up 83 cents, or 8%, at $11, in late trading.
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