Teradata Lifts FY21 Outlook, Shares Up 6%

(RTTNews) - Teradata Corp. (TDC) on Thursday lifted its outlook for the full year 2021. Shares are currently up 6% in after-hours trading.

The company now expects recurring revenues to grow at a high-single-digit to low-double-digit percentage year-over-year, up from a prior estimate of mid-to-high-single-digit percentage year-over-year

Total revenue is now expected to grow at a low-single-digit to mid-single-digit percentage year-over-year, up from a low-single-digit percentage year-over-year/

The company expects earnings of $0.78 to $0.82 per share, up from prior outlook range of $0.58 to $0.64 per share.

On an adjusted basis, the company now expects earnings of $1.92 to $1.96 per share, up from prior outlook of $1.61 to $1.67 per share.

Analysts polled by Thomson Reuters currently expect earnings of $1.58 per share on revenues growth of 3.90%