Teradata Corporation (NYSE:TDC) reported its fourth-quarter financial results after the bell Thursday. Here’s a look at the details.
The Details:
Teradata reported quarterly earnings of 56 cents per share which beat the analyst consensus estimate of 51 cents by 9.8% and is a 60% increase over earnings of 35 cents per share from the same period last year.
The company reported quarterly sales of $457 million, beating the analyst consensus estimate of $456.79 million by 0.05% and representing a 1.11% increase over sales of $452 million year-over-year.
“Teradata ended 2023 with $528 million of Cloud ARR, delivering ten-fold growth in less than four years,” said Steve McMillan, CEO of Teradata. “Companies everywhere are experimenting with AI to innovate their business and we are excited to be at the center of the AI era.”
“Trusted data is required for this type of breakthrough innovation, and data and analytics are what we believe Teradata does best. Through our open AI platform that delivers harmonized data, trusted AI and faster innovation, we strive to empower our customers and make Teradata the strategic partner in their success,” McMillan added.
Teradata issued guidance below estimates and sees first-quarter earnings of between 53 cents and 57 cents per share, versus the 73 cents per share estimate. The company expects fiscal year 2024 earnings of between $2.15 and $2.31 per share, versus the $2.38 per share estimate.
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TDC Price Action: According to Benzinga Pro, Teradata shares are trading down 13.4% after-hours at $42.26 at the time of publication.
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