Motley Fool
0
All posts from Motley Fool
Motley Fool in Motley Fool,

Why Hortonworks Shares Soared Today

What happened

Shares of Hortonworks (NASDAQ: HDP) have soared today, up by 19% as of 12:30 p.m. EDT, after the data software specialist reported second-quarter earnings.

So what

Revenue in the second quarter totaled $61.8 million, up 42% year over year. The company posted a non-GAAP net loss of $28.6 million, or $0.44 per share. Both top- and bottom-line results easily soared past consensus estimates, which were targeting $57.4 million in sales and an adjusted net loss of $0.50 per share.

Image source: Getty Images.

The company closed the quarter with $71.8 million in cash, and deferred revenue of $216.2 million.

Now what

During the quarter, Hortonworks expanded its partnership with IBM, and introduced a new software support subscription plan. In terms of outlook, third-quarter revenue is expected to be $63 million, with a non-GAAP operating margin of negative 43% to negative 39%. That top-line forecast is ahead of the $60.5 million that the Street is currently modeling for. Full-year 2017 sales are forecast to be $247 million, also beating expectations of $239.5 million.

10 stocks we like better than Hortonworks
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Hortonworks wasn't one of them! That's right -- they think these 10 stocks are even better buys.

Click here to learn about these picks!

*Stock Advisor returns as of August 1, 2017

Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.