Chance of meatballs

4 April 2018 By Ben Kellerman Follow @benkellerman_

The data-analytics firm lost some 40 pct of its market value after saying revenue will slow. Cloudera, which listed only a year ago, wasn’t expected to make a profit any time soon. But when companies are driven by rapid top-line growth, a little disappointment goes a long way.

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Cloudera shares were down more than 40 percent in afternoon trading on April 4, a day after the company gave guidance for fiscal year 2019 that missed analysts’ forecasts. The company did however report fourth-quarter revenue ahead of estimates, and a smaller loss than expected.

Cloudera Chief Executive Tom Reilly said in a conference call the company pursued too many new customers outside of its target market and fell short in expanding existing customers. He said Cloudera would make changes in its sales organization and hire a new head of sales.

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