NEWS
NEWS
NEWS
Hortonworks blows past analysts expectations in Q2
Hadoop vendor Hortonworks Inc. gave shareholders lots to cheer about yesterday after posting second-quarter earnings that beat Wall Street estimates, and new revenue forecasts well ahead of previous views. The company also reported a substantial increase in new subscriptions as its share price jumped by 4.9 percent.
Hortonworks still isn’t profitable though, and probably won’t be for some time. The firm reported adjusted losses of $0.80 a share, but this was far less than the $5.26 loss per share it posted in Q2 of last year, and $0.4 ahead of Thomson Reuter’s forecasts. Meanwhile, Hortonworks said its revenues jumped by 154 percent to $30.7 million, smashing estimates of $23.3 million.
Looking ahead, Hortonworks says it’s expecting third-quarter revenues of between $29 million and $30 million, far more than the initial $24.6 million analysts had predicted. For the full year, Hortonworks believes its revenues will hit between $114 million and $117 million, ahead of the current $97.4 million estimate.
Rob Bearden, CEO and Chairman of Hortonworks, told shareholders that the company was rapidly expanding its customer base. It signed up 119 new support customers in the quarter, a 125 percent increase over last year’s second-quarter. Regarding the customers who’ve subscribed to the Hortonworks Data Platform (HDP), Bearden said “we could not be more thrilled to serve as their trusted IT partner during this transformational period in data management.”
Hortonworks best quarter to date comes just weeks after the release of HDP 2.3, which the company billed as the first Hadoop framework that’s entirely composed of Apache Software Foundation source code. This contrasts to the platforms offered by rival vendors Cloudera Inc. and MapR Technologies Inc., both of whom use their own proprietory Hadoop management software, instead of the open-source Apache Ambari project.
Excited investors pushed Hortonworks’ share price up by 6.5 percent at one point during Wednesday trading, though the price ended the day up 4.9 percent, at $24.15 a share.
Santa Clara-based Hortonworks is still the only major Hadoop vendor to have gone public, having launched its IPO in December 2014.
Photo Credit: Tom Olliver via Compfight cc
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