Teradata results disappoint as demand falls in Asia

Big data analytics firm Teradata Corp's results estimates missed forecasts as revenue slid in Asia, Middle East and Africa due to competition from cheaper products, sending its shares down 11 percent in extended trading.

The company, which has benefited from an explosion in demand for tools to analyze vast amounts of data stored in real time, has been fighting for market share with bigger players such as Oracle Corp .

Teradata products were costlier than those from rivals such as Oracle, deterring customers from buying these, FBN Securities analyst Shebly Seyrafi said.

Teradata, which reports third-quarter results on October 31, said it also expected to miss its full-year earnings forecast.

The company, which counts Cisco Systems Inc and ebay Inc among its customers, estimated adjusted earnings of 69-70 cents per share on revenue of about $665 million for the quarter ended September 30.

Analysts on average were expecting earnings of 81 cents on revenue of $699 million, according to Thomson Reuters I/B/E/S.

The company said revenue fell about 21 percent in its Asia, Pacific, and Japan markets and about 19 percent in its Middle East and Africa markets.

Teradata is much more exposed to larger deals that have a risk of slipping from quarter to quarter, Pacific Crest Securities analyst Jesse Hulsing said.

The company's shares closed at $52.58 on the New York Stock Exchange on Monday.

(Reporting by Neha Alawadhi and Lehar Maan in Bangalore; Editing by Don Sebastian)