In episode 54 of the Acceleration Economy Minute, Kieron Allen highlights the latest financial results from Teradata, which is on our Top 10 list of Data Modernization Enablers.
This episode of the Acceleration Economy Minute is sponsored by Acceleration Economy’s Digital CIO Summit, taking place April 4-6. Register for the free event here. Tune in to the event to hear from CIO practitioners discuss their modernization and growth strategies.
Highlights
00:40 — Teradata, which Kieron profiled earlier this week, reported fourth quarter results that were better and beat Wall Street expectations for the multi-cloud and analytics company. It’s a solid indicator that the company’s pivot to cloud, and more specifically its focus on analytics for multi-cloud environments, is winning over customers.
00:40 — Teradata reported adjusted earnings of $0.35 per share in the quarter, which beat Wall Street’s average estimate of $0.31 cents per share. Sales were $452 million, but that easily beat analysts’ consensus estimate of about $423 million
01:02 — The company’s annual recurring revenue (or ARR) in its public cloud business rose an impressive 77% to $357 million in the quarter. Management said recurring revenue now accounts for 79% of total sales, up from 77% in the year-ago quarter.
01:59 — For the full year ended December 31, total revenue was $1.795 billion and recurring revenue was $1.419 billion. Looking ahead to the 2023 fiscal year, public cloud ARR is expected to increase 53% to 57% for the full year, while total ARR is expected to increase 6% to 8%
02:20 — Kieron predicts 2023 should be a very interesting year indeed for this company as it continues to evolve and grow.
Which companies are the most important vendors in data? Click here to see the Acceleration Economy Top 10 Data Modernization Short List, as selected by our expert team of practitioner-analysts
