Shares of Hortonworks (NASDAQ: HDP) have soared today, up by 19% as of 12:30 p.m. EDT, after the data software specialist reported second-quarter earnings.
Continue Reading Below
Revenue in the second quarter totaled $61.8 million, up 42% year over year. The company posted a non-GAAP net loss of $28.6 million, or $0.44 per share. Both top- and bottom-line results easily soared past consensus estimates, which were targeting $57.4 million in sales and an adjusted net loss of $0.50 per share.
The company closed the quarter with $71.8 million in cash, and deferred revenue of $216.2 million.
During the quarter, Hortonworks expanded its partnership with IBM, and introduced a new software support subscription plan. In terms of outlook, third-quarter revenue is expected to be $63 million, with a non-GAAP operating margin of negative 43% to negative 39%. That top-line forecast is ahead of the $60.5 million that the Street is currently modeling for. Full-year 2017 sales are forecast to be $247 million, also beating expectations of $239.5 million.
10 stocks we like better than HortonworksWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Hortonworks wasn't one of them! That's right -- they think these 10 stocks are even better buys.
Click here to learn about these picks!
*Stock Advisor returns as of August 1, 2017