Teradata delivered a strong quarter across the board and raised its outlook for the year.
The company reported third quarter earnings of $75 million, or 44 cents a share. Non-GAAP earnings were 46 cents a share. Teradata's third quarter revenue tally of $489 million was up 15 percent from a year ago.
Wall Street was expecting earnings of 39 cents a share on revenue of $464.2 million.
Meanwhile, Teradata increased its outlook for 2010. The company projected revenue growth of 12 percent up from its previous outlook for growth of 8 percent to 10 percent. Teradata also projected earnings of $1.71 a share to $1.74 a share. Non-GAAP earnings were projected to be $1.80 to $1.83. Wall Street was expecting 2010 earnings of $1.70 a share.
Teradata's results are notable given that it plays in the hot data warehousing and analytics market. The company also happens to be a fine acquisition target for larger players trying to beef up their analytics capabilities.
By the numbers:
- Gross margin was 57.1 percent in the third quarter, up from 53.4 percent a year ago.
- Revenue in the Americas was $292 million, up 18 percent from a year ago. Europe Middle East and Africa revenue was $109 million, and Asia Pacific/Japan sales were $88 million.
- The company ended the quarter with $741 million.