What happened
Shares of Hortonworks (HDP) have soared today, up by 19% as of 12:30 p.m. EDT, after the data software specialist reported second-quarter earnings.
So what
Revenue in the second quarter totaled $61.8 million, up 42% year over year. The company posted a non-GAAP net loss of $28.6 million, or $0.44 per share. Both top- and bottom-line results easily soared past consensus estimates, which were targeting $57.4 million in sales and an adjusted net loss of $0.50 per share.
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The company closed the quarter with $71.8 million in cash, and deferred revenue of $216.2 million.
Now what
During the quarter, Hortonworks expanded its partnership with IBM, and introduced a new software support subscription plan. In terms of outlook, third-quarter revenue is expected to be $63 million, with a non-GAAP operating margin of negative 43% to negative 39%. That top-line forecast is ahead of the $60.5 million that the Street is currently modeling for. Full-year 2017 sales are forecast to be $247 million, also beating expectations of $239.5 million.
