Home Equities Score What Is Driving Teradata Corporation (TDC) Stock Down In Premarket Session?

What Is Driving Teradata Corporation (TDC) Stock Down In Premarket Session?

Teradata (NYSE: TDC), an enterprise software company that specializes in commercializing database analytics and higher convenience in scalability, announced its first-quarter 2021 financial results.

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At last check-in premarket trading, shares of Teradata Corporation (TDC) were down -10.84% at $43.2. TDC stock closed last session at $48.45, decreasing -0.92% or -$0.45. Shares of the company fluctuated between $46.67 and $48.76 throughout the day.  Over the past three months, the stock has gained 79.11%, while over the past six months, it has added 153.00%

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About TDC Financial Report

Public cloud ARR had an increment of $79 million, which depicted 176% from the previous year period, surpassing the outlook of approximately 165% year-over-year. Recurring revenue generated in the first quarter of 2021 was $372 million, representing an increase of 20% from the last year period.

Cash from operations of $110 million, depicting an increment of $100 million from the last year period. First-quarter GAAP earnings per diluted share of $0.47 exceeded the prior provided outlook range between  $0.11 to $0.13. First-quarter non-GAAP earnings per diluted share of $0.69 surpassed the prior provided outlook range between $0.38 to $0.40.

Total ARR had a rise of 12% to $1.404 billion in the first quarter of 2021, compared to $1.254 billion in the same quarter for the previous year. On a sequential basis, total ARR declined by $21 million and was flat in constant currency which was attributed to very strong FX headwinds. Total revenue was $491 million in comparison to $434 million, depicting an increment of 13% as reported and 10% in constant currency.

Cash flow from operations was $110 million in the first quarter of 2021, compared to $10 million in the first quarter of 2020. Furthermore, free cash flow was $105 million in the first quarter of 2021 vs negative $2 million for the same quarter of the previous year, representing an increase of $107 million from the previous year period.

GAAP operating income was $81 million in Q1 2021 in comparison to an operating loss of $6 million in Q1 2020. Non-GAAP operating income was $115 million in first quarter of 2021 compared to $32 million in first quarter of 2020.

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Conclusion

TDC financial result showed substantial improvement in total revenue as well as cash from operations. Furthermore, it had a positive outlook for the full year of 2021, however, failed to produce adequate investor interest, with TDC stock declining immensely at last check.

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