Hortonworks beats revenue expectations for Q4
Hortonworks reported its financial results for the fourth quarter of fiscal 2017 on Thursday, reporting higher-than-expected revenues and a net loss in line with expectations.
The company reported a net loss of $48.2 million, or 68 cents a share, on revenue of $75 million, up 44 percent from a year ago. The non-GAAP loss for the fourth quarter was 24 cents a share.
Wall Street was expecting Hortonworks to report a non-GAAP loss of 24 cents a share on revenue of $70.46 million.
For 2017, Hortonworks reported a net loss of $204.5 million, $3.08 cents per share, on revenue of $261.8 million, up 42 percent from a year ago. The non-GAAP loss for the full year was $1.40 per share.
For the full year, Wall Street was expecting Hortonworks to report a non-GAAP net loss of $1.42 a share on revenue of $257.26 million.
"We completed 2017 with a significant amount of momentum, resulting in record revenue of $261.8 million for the year and achievement of operating cash flow break-even exiting the fourth quarter," Rob Bearden, CEO and chairman at Hortonworks, said in a statement. "The breadth of our product portfolio, the execution of our team and the focus of our business strategy creates a strong foundation for us and our customers as we enter 2018."
As for the outlook, Hortonworks projected first quarter revenue of $75 million and between $322 million and $327 million for the year. Both of those sums were in line with expectations.