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According to a report published by SNS Research late last year, the global Big Data hardware, software, and professional services markets were estimated to grow to $57 billion last year. The researcher estimates that through the period 2020, the market will grow 10% annually to $76 billion. Big Data vendor and Billion Dollar Unicorn club member Cloudera (NYSE: CLDR) listed last year. But the company has had a choppy run in the public market so far.
Cloudera's Financials
Cloudera recently announced its third quarter results. Revenues grew 41% over the year to $94.6 million, ahead of the market's forecast of $91.3 million. It reported third-quarter net loss of $55.3 million, or $0.40 per share, compared with loss of $44 million, or $1.20 per share, reported a year ago. During the quarter, adjusted loss came in at $0.17 per share, compared with the Street's estimate of a net loss of $0.24 per share.
Subscriptions revenues grew 48% to $78.1 million and accounted for 83% of total revenues compared with 78% a year ago. Services revenues grew 13% over the year to $16.5 million. It added 23 net new Global 8000 customers in the quarter.
For the current quarter, analysts expect the company to report revenues of $97.3 million and adjusted losses of $0.26 per share. Cloudera announced a forecast of revenues of $97-$99 million with adjusted losses of $0.24-$0.22 per share.
Cloudera's Product Expansion
Cloudera continues to improve its product offerings to attain market growth. Last quarter, it launched the Cloudera Shared Data Experience (SDX), a software framework of data management that simplifies the development of multi-function data apps and makes them safer and less expensive to deploy. The solution works across cloud, multi-cloud, and on-premises deployments and uses the same data regardless of where it resides to achieve this goal.
It also introduced Cloudera Altus Analytic DB, a Platform-as-a-Service offering, which is the first data warehouse cloud service that brings the warehouse to the data. The solution will allow enterprises to perform self-service business intelligence and SQL analytic workloads in the cloud.
