Cloudera stock rallies after company's Q2 tops views

Shares of Cloudera Inc. rose nearly 10% in the extended session Wednesday after the cloud computing company reported a narrower quarterly loss and sales came in above expectations. Cloudera said it lost $87 million, or 31 cents a share, in the fiscal 2020 second quarter, compared with a loss of $29 million, or 19 cents a share, in the second quarter of fiscal 2019. Adjusted for one-time items, Cloudera lost 2 cents a share in the quarter, compared with a loss of 5 cents a share a year ago. Revenue rose to $196.7 million, from $113 million a year ago. Analysts polled by FactSet had expected an adjusted loss of 10 cents a share on sales of $182 million. Cloudera said it expects an adjusted loss between 28 cents a share and 24 cents a share for fiscal 2020, and revenue for the year to range between $685 million and $695 million. The stock ended the regular trading day up 0.4%.

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