Hortonworks Q2 misses, shares fall after hours
Open-source Hadoop vendor Hortonworks announced second quarter earnings and revenue results Tuesday after the bell.
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The Santa Clara, Calif.-based corporation reported a net loss of $64.2 million, or $1.12 per share (statement).
Non-GAAP losses were 72 cents per share on revenue of $43.6 million.
Wall Street was bracing for a loss of 70 cents per share with at least $45.3 million in revenue. The overall earnings miss sent Hortonworks' shares plummeting more than 24 percent in after-market trading.
In a display of optimism, Hortonworks CEO Rob Bearden said the quarter was highlighted by growth in subscription revenue from enterprise customers. Billings for the quarter were $62.2 million, an increase of 49 percent from the same quarter a year ago.
"We remain focused on transforming our enterprise customers' business models while also improving our own business model," he said.
For the current quarter, Hortonworks expects total GAAP revenue to be $45.0 million. Meanwhile, analysts are looking to see at least $49 million in revenue.