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Why Talend Stock Jumped Today

By Daniel Sparks - May 7, 2020 at 1:58PM

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This tech stock's cloud revenue is soaring.

What happened

Shares of cloud integration-solutions specialist Talend (TLND) 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.

A chart showing a stock price moving higher

Image source: Getty Images.

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."

Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Talend. The Motley Fool has a disclosure policy.

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