Hortonworks posts better than expected Q2 sales despite loss

Wall Street was bracing for loss of 84 cents per share with $23.29 million in revenue.

Hortonworks published much better-than-expected second quarter financial results after the bell on Wednesday.

First, the software company reported a net loss of $42.3 million, or $1 per share (statement).

On a non-GAAP basis, the loss was 80 cents per share on a revenue of $30.7 million -- up 154 percent from $12.1 million during the second quarter of 2014.

Yet Wall Street was bracing for loss of 84 cents per share with just $23.29 million in revenue.

Subscription revenue also climbed 178 percent year-over-year with the addition of 119 new support subscription logos.

Describing he and his team were "pleased" with last quarter's performance, Hortonworks CEO and chairman Rob Bearden credited much of the success to the recently updated Hortonworks Data Platform for open source Apache Hadoop development.

For the current quarter, Wall Street is expecting the loss to widen slightly to 85 cents per share with $24.56 million in revenue.

Hortonworks responded with a Q3 revenue guidance range of $29.0 million and $31.0 million.

For the full year, Hortonworks projected revenue to drop between $114.0 million and $117.0 million.