Shares of Big Data specialist Teradata (Nasdaq: TDC) jumped 8 percent after the computer specialist reported better-than-expected first quarter results.
By the close, Teradata shares had gained $4.95 to $77.14, up 7 percent, after setting a new 52-week high of $79.89 for the Dayton, Ohio company
Before the market opened, the data warehousing specialist said net income jumped 40 percent to $91 million, or 53 cents a share, from $65 million, or 38 cents, a year earlier. Revenue increased 21 percent to $613 million.
On operations, Teradata reported adjusted income of 60 cents compared with analyst expectations of only 52 cents.
The company also increased estimates for future income and revenue. Revenue for the full year is expected to rise between 12 percent and 14 percent, up from the prior estimates of only 10 percent to 12 percent. Operating earnings could be $2.60 to $2.70 a share, compared with earlier predictions of $2.56 to $2.66 a share.
We have the widest and deepest portfolio in the market to address the analytic data needs of any organization, said CEO Mike Koehler, who guided the company in its spinoff from NCR Corp. (NYSE: NCR) in 2007.
Teradata's biggest revenue gain came from sales of both servers and software used to handle data warehousing and analysis. The sector rose 31 percent to $308 million, or about 50 percent of all revenue. The next-largest gains came from consulting, up 14 percent.
David Zielenziger is a veteran editor and journalist who has written for newspapers including the Baltimore Sun, Asian Wall Street Journal and EETimes, as well as for...