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Stock Alert: Teradata Zooms 40% On Quarterly Results

Shares of hybrid cloud analytics software provider Teradata Corporation (TDC) are surging more than 40% Friday morning after reporting better-than-expected fourth-quarter results.

Net income in the fourth quarter was $5 million or $0.04 per share compared with net loss of $19 million or $0.17 per share last year.

On an adjusted basis earnings were $0.38 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.25 per share.

Revenue for the quarter was $491 million compared with $494 million last year. Recurring revenue increased 9% year-over-year to $383 million.

"Our Cloud-First focus has been recognized by our customers and the marketplace. Teradata achieved 165% growth in public cloud ARR year-over-year and received significant industry endorsement as a leading cloud data platform," said Steve McMillan, President and CEO, Teradata.

Looking forward to the first quarter, Teradata expects public cloud ARR to increase by at least 165% year-over-year and , and adjusted EPS to be in the range of $0.38 to $0.40. Analysts see earnings of $0.32 per share for the quarter.

For the full year, public cloud ARR is expected to increase by at least 100% year-over-year and adjusted EPS to be between $1.50 and $1.58. The consensus estimate is for $1.5 per share.

TDC touched its 52-week high of $44.90 this morning before declining to trade at  $38.08 currently.

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