Teradata (NYSE:TDC) stock is soaring higher on Friday after releasing its earnings report for the fourth quarter of 2020.
The Teradata earnings report saw it bring in adjusted earnings per share of 38 cents. That beat out Wall Street’s estimate of 25 cents for the quarter. It’s also a 72% increase over its adjusted EPS of 22 cents from the same time last year.
To go along with Teradata’s adjusted EPS beat is revenue of $491 million. That’s better than analysts’ estimate of $475.5 million for the period. However, it represents a 1% decline compared to the $494 million reported in the fourth quarter of 2019.
The Teradata earnings report also has net income coming in at $5 million. That’s a positive change year-over-year from its net loss of $19 million. The same holds true for its operating income during the quarter. It switched to $13 million from an operating loss of $5 million in the same period of the year prior.
The positive news for TDC stock in the earnings report continues with its 2021 guidance. That includes adjusted EPS between 38 cents and 40 cents in Q1 and $1.50 and $1.58 for the full year. Wall Street’s estimates are for adjusted EPS of 32 cents in Q1 and $1.50 for the full year.
Steve McMillan, president and CEO of Teradata, said this about the news boosting TDC stock higher today.
“I am proud of the extraordinary resilience of our teams in 2020 and look forward to an even-stronger 2021. Companies must take advantage of all the data that is available to them to succeed, and we are steadfast in providing the enterprise scale and flexibility our customers need with our multi-cloud data platform.”
TDC stock was up 34.3% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.