Cloudera Inc. shares jumped in the extended session Thursday after the the company beat earnings expectations. Cloudera shares rose 5.7% to $16.89 after hours. The company reported third-quarter net losses of $55.3 million, or 40 cents a share, compared with losses of $44 million, or $1.20 a share, in the year-ago period. Adjusted losses were 17 cents a share. Revenue rose to $94.6 million from $67.3 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 24 cents a share on revenue of $91.3 million. For the fourth quarter, analysts model losses of 26 cents a share on revenue of $97.3 million. Cloudera stock has dropped 12% since its April initial public offering, with the S&P 500 index rising 10% in the same period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News