Shares of cloud integration-solutions specialist Talend (TLND) jumped on Friday, rising as much as 10.7%. As of 11:23 a.m. EDT, however, the stock was up 8.4%.
The stock's gain follows Talend's second-quarter earnings release on Thursday afternoon. Shares of the growth stock are likely up primarily because the company's top and bottom lines for the quarter were both better than expected. In addition, the company provided a stronger-than-expected outlook for the full year.
Talend reported second-quarter revenue of $67.7 million, up 12% year over year. Its non-GAAP (adjusted) loss per share for the period was $0.24. Analysts, on average, expected revenue of $66.3 million and a non-GAAP loss per share of $0.31.
Also worth noting, the annualized recurring value of all cloud-based subscription contracts at the end of the period was $75 million, up $128% year over year.
"We had strong execution across new business and retention as well as our Enterprise and volume business," said Talend CEO Christal Bemont in the company's second-quarter earnings release.
Management provided an optimistic view for the rest of the year, guiding for revenue between $277.5 million and $279.5 million. This compares with a consensus analyst forecast for $272 million.
Management also notably recommitted to its pre-COVID-19 target to reach a value of $100 million of annualized recurring cloud-based subscription contracts by the end of 2020.