Teradata Q3 Profit Matches Estimates; Cuts Full Year Guidance

(RTTNews) - Teradata Corp. (TDC) announced that, as a result of the third quarter results and an updated outlook for the fourth quarter, the company is lowering its full-year revenue guidance to approximately 6 - 8 percent revenue decline year over year on a reported basis, and approximately flat to down 2 percent on a constant currency basis. Teradata expects approximately 4 percentage points of currency headwind in the fourth quarter.

Teradata Corp. now expects its 2015 GAAP loss per share to be approximately $0.71 - $0.51. Non-GAAP earnings per share for the full-year is now expected to be approximately $2.00 - $2.20.

In August, the group projected its full year adjusted earnings to be in the approximate range of $2.20 to $2.50 per share and revenues to be down 3 to 6 percent, and to be up 0 to 3 percent in constant currency.

For the third quarter 2015, the company reported non-GAAP net income of $78 million, or $0.55 per share, versus $111 million, or $0.71 per share, in the third quarter of 2014. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.55 for the quarter. Analysts' estimates typically exclude special items.

Third-quarter revenue was $606 million, down 3% in constant currency. Analysts expected revenue of $638.36 million for the quarter.