Why Shares of Cloudera Jumped Today

Shares of Cloudera (NYSE: CLDR) rose on Friday after the cloud software company reported its third-quarter results. Cloudera beat analyst estimates across the board, sending the stock up about 10% by 11 a.m. EST.

Cloudera reported third-quarter revenue of $198.3 million, up 66.7% year over year and $9.2 million higher than the average analyst estimate. Subscription revenue was $166.9 million, up roughly the same percentage as total revenue. Annualized recurring revenue reached $697.4 million, up 13% year over year.

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Source Fool.com