Why Hortonworks, Inc. Stock Leaped 27% in August
Stock in big data software provider Hortonworks, Inc. (NASDAQ: HDP) rose 26.8% last month, according to data from S&P Global Intelligence.
Hortonworks shares jumped 18.4% on Aug. 4, the first trading session following the company's release of second-quarter 2017 results after the close of trading on Aug. 3. The organization posted an extremely strong revenue increase of 42% year over year and revised full-year expected revenue from a range of between $235.0 million and $240.0 million to a specific target of $247.0 million.
The balance of deferred revenue, an important barometer of software sales, was 64% higher at quarter end than in the comparable prior-year quarter. In addition, the company reported an operating loss of $54.5 million over the three months, comparatively better than the $64.3 million loss booked in Q2 2016. Through the first six months of the year, Hortonworks has recorded a loss of $110.9 million, an improvement over a loss of $129.9 million incurred in the first two quarters of 2016.
Source: Fool.com
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