Teradata posts higher 2Q earnings, revenue
Teradata Corp. said Thursday that its second-quarter net income and revenue grew, helped by growing demand for its data management technology.
Teradata helps financial, marketing and other companies store and analyze their data. Demand is growing for these types of services and technology as more work, shopping and socializing takes place on the Internet, fueling the need for "Big Data" companies such as Teradata to organize and make sense of all the information.
The company earned $112 million, or 65 cents per share, in the April-June period, up 9 percent from $103 million, or 60 cents per share.
Excluding one-time items and stock compensation expenses, Teradata earned 77 cents per share in the latest quarter, surpassing Wall Street's expectations.
Revenue rose 14 percent to $665 million from $581 million.
Analysts, on average, had expected earnings of 65 cents per share on revenue of $661.4 million, according to a poll by FactSet.
For the full year, Teradata now expects adjusted earnings of $2.72 to 2.82 per share. That's up from $2.60 to $2.70 per share. Analysts are expecting earnings of $2.69 per share.
Teradata's stock rose $1.89 or 2.9 percent to $65.15 in late morning trading. The stock has traded in the 52-week range of $43.19 and $79.89.