What happened
Shares of cloud integration-solutions specialist Talend (TLND +0.00%) jumped on Thursday, rising 9.2% as of 1:26 p.m. EDT.
The tech stock's gain follows the company's first-quarter results, which featured a top line that crushed analyst estimates.
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So what
First-quarter revenue jumped 18% year over year to $68.1 million. On average, analysts were expecting revenue of $64.9 million. The company's loss per share was $0.58, narrower than a loss of $0.59 in the year-ago period.
Notably, total subscription revenue for the period was up 22% year over year to $60.9 million, annual recurring revenue jumped 20% year over year to $245.9 million, and cloud-based annual recurring revenue soared 150% year over year to $61.1 million.
Now what
Talend withdrew its full-year outlook, citing uncertainty surrounding the impact of COVID-19. But CEO Christal Bemont said, "We believe the need for fast and reliable data has become even more critical in making business decisions in the current environment."
