Cloudera Inc. Shares Tumble After Initial Rise In After-Hours Trading

Cloudera, a newly publicly trading company on the New York Stock Exchange since April 27, 2017, reported their fiscal 1Q 2018 earnings and their first earnings report ever on Thursday, June 8, 2017. Shares were trading in a relatively flat (sideways) range for the past few days as the earnings day approached.

Shares have traded in a 52-week range of $17.73-$23.35. The company trades an average daily volume of around 1.4 million shares-not bad for a company just starting out on the NYSE. There are 128 million shares in the outstanding float of which only a small fraction ( 1.75%) are held short.

Immediately after the earnings figures were announced shares climbed higher- however after the numbers were fully digested it seems shares dropped like a rock. Shares closed down $3.59 or 15.62% at $19.40. Shares had closed the regular session at $22.99.

CLDR Numbers

So here is what happened. It seems that while operating cash flow for the quarter was higher by $5 million dollars compared to a negative flow -$23.6 million in the same time last year,  it was The GAAP net loss per share for the first fiscal quarter of 2018 which was $5.78 per share compared to a loss of $1.2 dollars per share in the previous same earnings period a year ago.

However, the company seemed to shrug off the loss and was looking forward to a much more positive looking rest of the year with much to look forward to.

Company Statements

Tom Reilly, Chief Executive Officer had this to say about the numbers;

“We had a strong first quarter as a public company, making progress against many of our key objectives,” said Tom Reilly, chief executive officer at Cloudera. “We are proud of the role that Cloudera is playing in helping solve some of the world’s most challenging problems through data. In Q1, we continued our innovation leadership in machine learning with the introduction of Cloudera Data Science Workbench, in IoT with the general availability of Apache Kudu and in cloud analytics with our first Platform-as-a-Service offering, Cloudera Altus. In addition, I am pleased with the success that our customers are experiencing in becoming data- and insight-driven enterprises and its corresponding effect on our business with our net expansion rate of 142% for the quarter.”

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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