Teradata Corporation (NYSE:TDC) posted results that surpassed expectations and guidance that impressed investors in its fourth quarter results released before the bell on Monday.
The cloud data platform company saw revenue of $452 million and non-GAAP EPS of $0.35, both of which beat the Street's expectations of $436.27 million and $0.30, respectively. That compared to $457 million and $0.57 in the fourth quarter of 2021.
Looking ahead, the San Diego firm projected first quarter revenue to increase 1% to 4% year-over-year and non-GAAP earnings per share to be between $1.90 and $2.06.
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As a result, the company’s stock jumped more than 15% on Monday.
"Teradata had a strong 2022, including achieving our largest quarter of cloud growth ever, and meeting or beating every element of our annual outlook," CEO Steve McMillan said.
"It was only in the middle of 2020 that we set our sights on our cloud-first future. In that short amount of time, and despite challenging macroeconomic factors, Teradata delivered more than a six-fold growth in cloud [annual recurring revenue].”
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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