Hortonworks, New Relic satisfy earnings targets

Cornerstone OnDemand also beat estimates.

Hortonworks led the tech earnings parade on Tuesday, publishing, posting second earnings that beat market estimates. The company reported a net loss of $42 million, or 52 cents a share, on revenue of $86.3 million, up 40 percent from a year ago. The non-GAAP loss for the first quarter was 12 cents a share.

Wall Street was expecting Hortonworks to report a non-GAAP loss of 23 cents a share on revenue of $80.5 million.

Broken down, Hortonworks said support subscription revenue was was $65 million and professional services revenue was $21 million.

Looking ahead to Q3, Hortonworks expects revenue of $87 million, above analyst estimates for $82 million. Shares of Hortonworks were up more than 11 percent after hours.

Cornerstone OnDemand also reported second quarter results above estimates.

The talent management software provider posted a net loss of $11.3 million, or 20 cents per share. Non-GAAP earnings were 13 cents a share on revenue of $133 million, up 14 percent year over year.

Wall Street was expecting earnings of 12 cents per share on a revenue of $128.3 million.

Elsewhere in its earnings report, the company said it ended the quarter with more than 3,363 businesses signed up and a total user base is at 36.7 million. Subscription revenue was up 21 percent to $116.7 million.

For the current quarter, Cornerstone expects revenue between $129 million and $131 million, above Wall Street estimates of $122 million.

New Relic, meanwhile, reported first quarter financial results that satisfied targets for both earnings and revenue.

The software analytics company posted a net loss of $5.6 million, or 10 cents per share.

On a non-GAAP basis, the net income was 15 cents per share on revenue of $108.2 million, up 35 percent year-over-year.

Wall Street was expecting earnings of 11 cents per share on revenue of $106 million.