Teradata Stock Plunges 23% Following Mixed Q4 Results

Teradata Stock Plunges 23% Following Mixed Q4 Results Feb. 13, 2024, 11:46 a.m., readers: 14

Shares of Teradata (NYSE:TDC) dropped more than 23% intra-day today following the release of its fourth-quarter results, which presented a mixed picture and highlighted a shortfall in public cloud Annual Recurring Revenue (ARR). In the fiscal fourth quarter of 2023, the provider of cloud database and analytics software reported an earnings per share (EPS) of $0.56, exceeding the expected $0.51 by analysts. The company's revenue was $457 million, slightly above the analyst forecast of $456.34 million. However, Teradata's public cloud ARR, at $528 million, did not meet the anticipated $547 million. For the upcoming quarter, Teradata forecasts its non-GAAP diluted EPS to range from $0.53 to $0.57, falling short of the expected $0.74. For the full year of 2024, Teradata projects a total revenue growth of 0% to 2% year-over-year, adjusted for constant currency.

About NYSE: TDC

T eradata Corporation, together with its subsidiaries, provides a connected multi-cloud data platform for enterprise analytics. The company offers Teradata Vantage, a data platform that allows companies to leverage their data across an enterprise, as well as connects various sources of data to drive ecosystem simplification and support customers on their journey to the cloud through an integrated migration. Its business consulting services include support services for organizations to establish a data and analytic vision, and identify and operationalize analytical opportunities, as well as enable a multi-cloud ecosystem architecture and ensure the analytical infrastructure delivers value. In addition, it offers support and maintenance services.

Price: 36.25
Market cap: 3.5 billion USD
Eps: 0.61
P/e ratio: 59.43
Focus Analysis On: TDC