What happened

After management reported fiscal 2020 second-quarter results, shares of Cloudera (NYSE:CLDR), an enterprise data cloud company, rose 14% as of 10:51 a.m. EDT on Thursday.

So what

Here are the headline numbers from the quarter:

  • Revenue rose 74% to $196.7 million. The huge jump is largely attributable to last year's merger with Hortonworks.
  • Subscription revenue grew 71% to $164.1 million.
  • Annualized recurring revenue jumped 16% to $682 million.
  • Customers with annualized recurring revenue of at least $100,000 jumped 24% to 953.
  • GAAP (generally accepted accounting principles) net loss expanded 63% to $0.31 per share.
  • Non-GAAP loss per share dropped 60% to $0.02. That was much lower than the $0.10 net loss per share that market watchers had predicted.

Check out the latest earnings call transcript for Cloudera.

Businessman giving two thumbs up.

Image source: Getty Images.

Here is the guidance that is being shared with investors for the upcoming quarter and year:

  • Revenue in the upcoming quarter is expected to land between $187 million and $190 million. The midpoint of the range is roughly in line with expectations.
  • Non-GAAP net loss in the upcoming quarter is expected to be in the range of $0.08 to $0.06 per share. That's a little bit higher than the $0.05 net loss that Wall Street was looking for.
  • Revenue for the full fiscal year 2020 is expected to land between $765 million and $775 million. This is well above the $752.6 million that Wall Street was expecting.
  • Non-GAAP loss per share for the full fiscal year 2020 is expected to land between $0.28 and $0.24 per share. That's much lower than the $0.31 loss that the pros were projecting.

Given the better-than-expected quarterly results and upbeat guidance, it's no surprise to see shares flying high today.

Now what

It's been an interesting year for Cloudera. The company got off to a very rough start after it reported weak quarterly results, slashed its full-year guidance, and announced a surprise CEO transition. The stock became so cheap that billionaire activist investor Carl Icahn took an interest in the company and started to load up on shares.

There's no telling what might happen next, but if Cloudera can string together a few more beat-and-raise quarters like it just did, I could easily see this stock's upbeat trajectory continuing.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.