Cloudera Earnings: CLDR Stock Crumbles on Outlook, CEO Exit

CLDR CEO Tom Reilly is leaving at the end of July

Cloudera earnings for the company’s first quarter of fiscal 2020 have CLDR stock taking a beating on Thursday.

Cloudera Earnings: CLDR Stock Crumbles on Outlook, CEO Exit
Source: Shutterstock

The Cloudera (NYSE:CLDR) earnings report starts off with a mixed outlook for its second quarter of the fiscal year. This includes the software company expecting revenue for the period to range from $180 million to $183 million. This will have it missing Wall Street’s revenue estimate of $203.29 million for the quarter.

The Cloudera outlook for its second quarter of fiscal 2020 also has it expecting losses per share between 11 cents and 8 cents. This range covers analysts’ losses per share estimate of 9 cents for the period.

Cloudera earnings for its first quarter of the fiscal year also includes its outlook for the full year of fiscal 2020. This has the company expecting revenue of $745 million to $765 million. That’s a blow to CLDR stock with Wall Street looking for revenue of $844.71 million in fiscal 2020.

The Cloudera outlook for fiscal 2020 also has it expecting losses per share to come in between 32 cents and 28 cents. Analysts are expecting the company to report losses per share of 35 cents for its current fiscal full year.

While the Cloudera earnings outlook was definitely bad news for CLDR stock, it wasn’t the only negative for the company. It also announces today that it is losing CEO Tom Reilly at the end of July. Filling in for him temporarily will be Chairman of the Board Martin Cole as a new CEO is sought out.

CLDR stock was down 41% as of Thursday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/06/cloudera-earnings-hit-cldr-stock/.

©2019 InvestorPlace Media, LLC