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Cloudera Inc.
COOL, -3.40%
Shares fell on Wednesday after the cloud software company announced that its general manager was pulling out and that earnings and earnings prospects were lower than Wall Street estimates. Cloudera shares fell 27% after normal hours, after a 3.3% drop to close the regular session at $ 8.81. Cloudera said CEO Tom Reilly will retire on July 31 and that President Martin Cole will act as interim CEO while the company conducts a search. The company reported a loss of $ 103.1 million in the first quarter, or 38 cents per share, compared to $ 52.3 million, or 36 cents a share, in the same quarter of the previous year. The adjusted loss was 13 cents per share. Revenues reached $ 187.5 million compared to $ 103.5 million in the same quarter of the previous year. Analysts surveyed by FactSet were forecasting a loss of 23 cents per share on a $ 188.4 million business figure. Cloudera expects a loss per share of 11 to 8 cents per share on revenue of $ 180 million to $ 183 million for the second quarter, and a loss of 32 to 28 cents over sales revenue. Analysts forecast a loss of 10 cents per share on revenues of $ 202.9 million for the second quarter and a loss of 35 cents per share on revenues of $ 843.8 million for the year.
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