Teradata Corp ( (TDC) ) has released its Q3 earnings. Here is a breakdown of the information Teradata Corp presented to its investors.
Teradata Corp, a leader in cloud analytics and data platform solutions, specializes in providing businesses with advanced tools for AI-driven decision making across various industries. In its latest financial results for the third quarter of 2024, Teradata showcased significant growth in its cloud segment, reporting a 26% increase in public cloud annual recurring revenue (ARR) to $570 million. The company’s non-GAAP diluted earnings per share (EPS) rose to $0.69, marking a 64% year-over-year improvement. Key financial highlights include a 3% increase in recurring revenue and a substantial rise in free cash flow, which reached $69 million, up 92% from the previous year. Additionally, Teradata has realigned its sales function and shifted to a two-segment operational model to enhance efficiency and customer engagement. Looking ahead, Teradata aims to continue growing its public cloud ARR by 18% to 22% for the full year 2024, while maintaining focus on strategic initiatives that promise to propel the company’s market position and operational execution.
