Teradata shares climb 10% on strong earnings, guidance

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Teradata Corp. shares were up 10% in after-hours trading Thursday after the hybrid-cloud company reported fiscal second-quarter earnings that topped Wall Street estimates and offered strong Q3 earnings guidance. Teradata reported a loss of $43 million, or 40 cents a share, compared with a loss of $1 million, or a penny a share, in the year-ago quarter. After adjusting for stock-based compensation and other expenses, Teradata reported net income of $26 million, or 24 cents a share, compared with net income of $34 million, or 29 cents a share, a year ago. Revenue declined 4% to $457 million from $478 million a year ago. Analysts surveyed by FactSet had expected net income of 22 cents a share. For the current quarter ending in October, Teradata expects per-share earnings of between 28 cents and 31 cents, above FactSet’s estimate of 21 cents. Teradata shares are down 23% this year. The broader S&P 500 index has improved 3.7% in 2020.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.