Cloudera, CEO of Reilly, leaves its Q1 2020 results

Cloudera shares fell 30% on Wednesday after the company announced that its CEO, Tom Reilly, is retiring and leaving the company's board, effective July 31. The company also announced profits.

Under Reilly, Cloudera went public in 2017 and finalized the merger with its competitor Hortonworks. Now, Reilly is temporarily replaced by board member Martin Cole, a former Accenture executive, as Cloudera looks for a permanent CEO.

"Tom and the board have always been committed to continually evaluating Cloudera's progress and ensuring that we have long-term value, so we agreed with Tom that the time was right to a transition from leadership, "said Cole in a statement.

Reilly became CEO of Cloudera in 2013. Previously, he was CEO of ArcSight, purchased by HP in 2010, and CEO of Trigo, purchased by IBM in 2004.

Also Wednesday, Cloudera announced a profit for the first quarter of its fiscal year 2020, closed on April 30. The company recorded a net loss of 13 cents per share, excluding certain items, on a turnover of 187.47 million dollars. Analysts expected a loss of 23 cents per share, excluding certain items, on a turnover of 188.4 million dollars.

Regarding the forecast, Cloudera said that for the second quarter of the fiscal year, he forecast a loss of 8 to 11 cents per share, excluding special items, on revenues of $ 180 to $ 183 million. Analysts surveyed by Refinitiv were looking for a loss of 9 cents per share, excluding some items, on a $ 203.1 million business figure.

Cloudera now expects a loss of 28 cents to 32 cents per share, excluding certain items, as well as revenues of $ 745 to $ 765 million. The Refinitiv Consensus for the fiscal year was a loss of 36 cents per share, excluding certain items, and revenues of $ 834.3 million.

Cloudera led the way in commercializing Hadoop open source software for storing and processing large amounts of data of different types. Last month, the San Francisco Chronicle announced that a smaller competitor, MapR, was closing and laying off 122 people.

Intel has invested more than 700 million dollars in Cloudera. Intel said it suffered a $ 278 million impairment loss due to a "lasting decline in the fair value" of its investment in the company. Intel's investment now stands at around $ 163 million.

The announcement of the merger with Hortonworks resulted in a period of uncertainty. During this period, Cloudera faced increased competition from cloud providers, Reilly told badysts at a conference call on Wednesday.

The Cloudera stock fell by nearly 49% the previous year.

– Ari Levy from CNBC contributed to this report.

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