New Relic, Hortonworks, Arista all report strong quarterly earnings
New Relic published financial results for its first quarter in fiscal 2018 on Thursday, beating market expectations.
The digital intelligence firm posted a non-GAAP net loss of 9 cents per share, compared with a net loss of 20 cents per share in Q1 2017. First quarter revenues came to $80.1 million, growing 37 percent year-over-year.
Wall Street was expecting a non-GAAP loss of 13 cents per share on revenue of $78 million.
"Our strong first quarter results reflect our continued ability to add innovative and important enterprise brands to our growing base of paid business accounts with more than $100,000 in annualized recurring revenue," CEO Lew Cirne said in a statement. "We are uniquely positioned to help enterprises ensure the success of their digital initiatives, with real-time insights into the performance of their infrastructure, applications and customer experience."
For Q2, the company is expecting a non-GAAP net loss per share of between 9 cents and 11 cents on revenue between $81.8 million and $83.3 million.
Arista Networks reported second quarter non-GAAP earnings of $105.5 million, or $1.34 per diluted share, compared to non-GAAP net income of $53.7 million, or $0.74 per diluted share, Q2 2016. The company's revenue came to $405.2 million, up nearly 51 percent from a year prior.
Its results surpassed market expectations: Wall Street was looking for earnings of 95 cents on revenue of $360.4 million.
As for the outlook, Arista projected third quarter revenue between $405 and $420 million.
Open-source Hadoop vendor Hortonworks beat market expectations for Q2, with a non-GAAP net loss of $28.6 million, or 44 cents per share, compared to a non-GAAP net loss of 72 cents per share, for the same period last year.
Q2 revenue was $61.8 million, an increase of 42 percent compared to the second quarter of 2016.
Wall Street was expecting a loss of 49 cents on revenue of $57.4 million.
For the current quarter, Hortonworks expects revenue of $63 million.