Cloudera beats Q4 expectations

Shares fell in after-hours trading after the big data management business reported a weaker-than-expected outlook for FY 2019.

Cloudera on Tuesday posted its financial results for the fourth quarter and the full fiscal year 2018.

The big data management business reported a Q4 non-GAAP loss of $16.6 million, or 10 cents per share. A year prior, the company reported a non-GAAP loss of $33.4 million, or 30 cents per share. Total revenue for the fourth quarter was $103.5 million, an increase of 42 percent year-over-year.

Wall Street was expecting a net loss of 23 cents a share on revenue of $98.64 million.

Fourth quarter subscription revenue came to $84.3 million, a 50 percent year-over-year increase.

For the full fiscal year 2018, Cloudera reported a non-GAAP loss of $96.6 million, or 69 cents a share. Total revenue was $367.4 million, an increase of 41 percent year-over-year.

Subscription revenue for the year was $301 million, an increase of 50 percent year-over-year, equaling 82 percent of total revenue.

In a statement, CEO Tom Reilly noted the company's accomplishments for the year.

"In our first few quarters as a public company, we introduced six major product offerings, completed a strategic acquisition, and delivered significant technological innovations," he said, "with the open source community and also proprietary to our products."

For the fiscal year 2019, Cloudera is expecting total revenue in the range of $435 million to $445 million, with subscription revenue in the range of $370 million to $375 million.

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