Better than expected second quarter revenue of $544 million, up 6 percent from second quarter of 2017
Recurring revenue up 11 percent from the second quarter of 2017
Better than expected second quarter GAAP and non-GAAP EPS(1)
Second quarter cash from operations and free cash flow better than expected(2)
Repurchased 2.1 million shares during the second quarter for approximately $81 million, $157 million YTD
SAN DIEGO - August 2, 2018 -- Teradata Corp. (NYSE: TDC) reported revenue of $544 million for the quarter ended June 30, 2018, a 6 percent increase (4 percent in constant currency(3)) from the second quarter of 2017. Recurring revenue of $312 million was up 11 percent (10 percent in constant currency(3)) from the second quarter of 2017. Subscription-based transactions contributed 66 percent of new bookings in the quarter, better than Teradata’s recently increased full-year expectation of 50-60 percent.
Teradata’s second quarter year-over-year revenue comparison was benefited by approximately 2 percentage points of foreign currency translation(3). However, this was one percentage point less benefit than assumed when the Company provided guidance on May 3, 2018.
Teradata reported net income of $4 million under U.S. Generally Accepted Accounting Principles (GAAP) in the second quarter of 2018, or $0.03 per diluted share, which compared to a net loss of $(4) million, or $(0.03) per share, in the second quarter of 2017. Non-GAAP net income in the second quarter of 2018, which excludes stock-based compensation expense and special items, was $32 million, or $0.26 per diluted share, as compared to $28 million, or $0.22 per diluted share in the second quarter of 2017(1).
“I am very pleased with our better than expected second quarter results, which were delivered even as our business is shifting faster than we had estimated to subscription-based transactions,” said Vic Lund, President and CEO of Teradata. “We are helping customers implement new use cases for Teradata every day, which provide valuable business outcomes and increase their desire to consume more of Teradata’s software. As a result, we are even more confident that we are on the path to success and well positioned to continue to grow as a leading provider of cloud-based enterprise analytics at scale. Our entire Teradata team is laser focused on our long-term strategy, as we partner with our customers to identify and operationalize the insights that drive their business forward.”
For the second quarter of 2018, gross margin reported under GAAP was 46.0 percent versus 47.2 percent for the second quarter of 2017. On a non-GAAP basis, excluding stock-based compensation expense and
The following information was filed by Teradata Corp (TDC) on Thursday, August 2, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Teradata Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Teradata Corp.
Ticker: TDC CIK: 816761 Form Type:10-Q Quarterly Report Accession Number: 0000816761-18-000027 Submitted to the SEC: Mon Aug 06 2018 4:31:38 PM EST Accepted by the SEC: Mon Aug 06 2018 Period: Saturday, June 30, 2018 Industry: Electronic Computers