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MuleSoft sets 2017 revenue targets; Arista Networks, LogMeIn, Hortonworks, Zendesk report

The latest batch of technology vendor earnings were solid as MuleSoft, Arista and others see strong demand ahead.

MuleSoft projected 2017 revenue between $271 million to $274 million as it reported its first quarterly results as a public company.

The company, which has a platform that applications together via application programming interfaces (APIs), went public March 17.

MuleSoft reported a net loss of $10.14 million, or 27 cents a share, on revenue of $60.9 million, up 56 percent from a year ago. The non-GAAP loss for the first quarter was 6 cents a share.

According to MuleSoft CEO Greg Schott, the company is seeing strong demand for connecting IT assets together. As for the outlook, MuleSoft said its second quarter revenue will be between $63 million and $64 million with a non-GAAP net loss of 13 cents a share.

Among the other results to note:

Arista Networks reported first quarter earnings of $83 million, or $1.07 a share, on revenue of $335.5 million, up 38.5 percent from a year ago. Non-GAAP earnings were 93 cents a share. Wall Street was looking for non-GAAP earnings of 86 cents a share.

As for the outlook, Arista projected second quarter revenue of $354 million to $364 million, well above the $343.8 million expected by Wall Street.

LogMeIn, which recently absorbed the GoTo product line from Citrix January 31, reported a first quarter net loss of $18.6 million, or 43 cents a share, on revenue of $187.5 million. Non-GAAP earnings for the quarter were 85 cents a share.

For the second quarter, LogMeIn projected second quarter revenue to be $254 million to $256 million with non-GAAP earnings of 92 cents a share to 94 cents a share.

LogMeIn projected 2017 revenue to be $970 million to $980 million with non-GAAP earnings of $3.80 a share to $3.92 a share. That annual revenue projection excludes January sales from GoTo.

Open-source Hadoop vendor Hortonworks reported mixed first quarter financial results. The Santa Clara, Calif.-based company reported a net loss of $54.8 million, or 89 cents a share. Non-GAAP losses were 50 cents a share on revenue of $56 million.

Wall Street was expecting a loss of 52 cents a share on revenue of $52.2 million, up 35 percent from the same quarter a year ago.

For the current quarter, Hortonworks expects revenue of $57 million, which is in-line with analyst estimates.

Zendesk also reported first quarter financials. The customer service software maker reported net loss of $26.9 million, or 28 cents a share. Non-GAAP losses were 5 cents a share on revenue of $93 million, up 36 percent year-over-year.

Wall Street was expecting a loss of 6 cents a share on revenue of $92.4 million.

The company also announced plans to acquire San Francisco-based startup Outbound, which makes software to help brands with customer outreach. Financial terms of the deal were not disclosed.

"With the Outbound team now joining Zendesk, we will be able to more rapidly build out our product family and accelerate our promise to deliver a single, seamless customer experience," said Zendesk CEO Mikkel Svane.

For the current quarter, Zendesk expects revenue in the range of $98 million to 100.0 million. Analysts are expecting revenue of $99.8 million.