New Relic, Hortonworks, Arista all report strong quarterly earnings

New Relic published[1] financial results for its first quarter in fiscal 2018 on Thursday, beating market expectations. The digital intelligence firm posted a non-GAAP net loss of 9 cents per share, compared with a net loss of 20 cents per share in Q1 2017. First quarter revenues came to £80.1 million, growing 37 percent year-over-year.

Wall Street was expecting a non-GAAP loss of 13 cents per share on revenue of £78 million. “Our strong first quarter results reflect our continued ability to add innovative and important enterprise brands to our growing base of paid business accounts with more than £100,000 in annualized recurring revenue,” CEO Lew Cirne said in a statement. “We are uniquely positioned to help enterprises ensure the success of their digital initiatives, with real-time insights into the performance of their infrastructure, applications and customer experience.” For Q2, the company is expecting a non-GAAP net loss per share of between 9 cents and 11 cents on revenue between £81.8 million and £83.3 million.

Arista Networks reported second quarter[2] non-GAAP earnings of £105.5 million, or £1.34 per diluted share, compared to non-GAAP net income of £53.7 million, or £0.74 per diluted share, Q2 2016. The company’s revenue came to £405.2 million, up nearly 51 percent from a year prior. Its results surpassed market expectations: Wall Street was looking for earnings of 95 cents on revenue of £360.4 million.

As for the outlook, Arista projected third quarter revenue between £405 and £420 million.

Open-source Hadoop vendor Hortonworks beat market expectations for Q2, with a non-GAAP net loss of £28.6 million, or 44 cents per share, compared to a non-GAAP net loss of 72 cents per share, for the same period last year. Q2 revenue was £61.8 million, an increase of 42 percent compared to the second quarter of 2016. Wall Street was expecting a loss of 49 cents on revenue of £57.4 million.

For the current quarter, Hortonworks expects revenue of £63 million.

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References

  1. ^ published (ir.newrelic.com)
  2. ^ second quarter (www.businesswire.com)

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