** charts before earnings **
** charts after earnings **
Teradata misses by $0.08, misses on revs; guides Q4 EPS below consensus
Reports Q3 (Sep) earnings of $0.32 per share, excluding non-recurring items, $0.08 worse than the S&P Capital IQ Consensus of $0.40; revenues fell 12.7% year/year to $459 mln vs the $485.62 mln S&P Capital IQ Consensus.
Co issues downside guidance for Q4, sees EPS of $0.13-0.18 vs. $0.58 S&P Capital IQ Consensus.
For the full-year, Teradata expects ARR to increase at least 8% and recurring revenue to increase approximately 8% to 9%. Teradata now expects approximately a $250 mln decline in perpetual revenue as the shift to subscription-based bookings continues to exceed the company's expectations. As the company continues to realign its consulting business to focus on higher-value consulting services that increase consumption, Teradata now expects consulting revenue to decline approximately 25%, more than the 20% it previously expected. Recurring revenue in the fourth quarter of 2019 is expected to be in the $348 mln to $350 mln range.
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