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Cloudera stock dissipates after disappointing 4Q results, guidance

The company beat on revenue, but poor earnings and guidance has investors worried
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This was the company's first quarterly report since its merger with Hortonworks

Cloudera Inc (NYSE:CLDR) stock is sliding after the company posted fourth-quarter results and guidance late Wednesday that underwhelmed investors.

The machine-learning and analytics platform beat on revenue, raking in $144.5 million compared with $121 million expectations. However, the company reported a net loss of $0.15 per share, bigger than the expected net loss of $0.11, according to TheStreet.

The share price dropped 16.8% to $12.15.

READ: Cloudera shares pop after unveiling all-stock $5B merger with competitor Hortonworks

Looking ahead, the Palo Alto, California-based company projects a net loss per share between $0.22 and $0.25, below the average expected loss per share of $0.11.

This is the first quarter since the company’s merger with rival Hortonworks was completed in January. In a conference call Wednesday, the company said it had a purchase-price adjustment from the agreement that would reduce its fiscal 2020 revenue by $62 million, per MarketWatch.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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