Teradata TDC recently announced its role as the official cloud analytics partner for the Los Angeles Clippers and Intuit Dome, the team’s new arena set to open on Aug 15, 2024, in Inglewood, CA.
As a cloud analytics partner, TDC will provide a suite of advanced AI technologies and cloud analytics services, including the exclusive entitlement to the arena’s Halo Loft Level.
Intuit Dome is set to transform the live sports and entertainment experience in Los Angeles, featuring elements like five basketball courts, an expansive outdoor Plaza, 51 uninterrupted rows of seats known as The Wall and the largest double-sided Halo Board ever installed in an arena.
The Teradata Halo Loft Level will offer plush, private theater-style seating, exclusive dining and creative technology integrations, setting a new standard for fan engagement and entertainment.
Teradata Corporation Price and Consensus
Teradata Corporation price-consensus-chart | Teradata Corporation Quote
Teradata Rides on Expanding Partner Base
Teradata’s latest move bodes well with its commitment to redefining live experiences and enhancing sports and entertainment through advanced AI technologies.
In second-quarter 2024, TDC witnessed significant growth in Cloud Annual Recurring Revenue (ARR), which reached $542 million and increased 31% year over year and 32% at constant currency (cc). The upside was driven by the strong adoption of Teradata’s cloud solutions, indicating increasing customer preference for cloud-based analytics and data management.
Expanding partner base that includes the likes of Datarobot, Alphabet’s GOOGL cloud business, Google Cloud, Microsoft MSFT and Amazon AMZN has been a major growth driver.
In June, TDC announced the integration of Teradata VantageCloud Lake with Google Cloud, combining ClearScape Analytics and Google’s Vertex AI and Gemini models to enhance AI capabilities and drive advanced use cases.
The availability of Teradata VantageCloud Lake on Microsoft Azure is expected to expand clientele as it offers end-to-end support for AI and machine learning workloads, including generative AI and LLMs.
In May, the company announced at Microsoft Build that Teradata AI Unlimited, its on-demand AI/ML workload, is now available in private preview within Microsoft Fabric, offering users seamless, pay-as-you-go access to ClearScape Analytics for innovative AI solutions.
TDC also renewed and expanded its Strategic Collaboration Agreement with Amazon Web Services (AWS) to enhance cloud migration, data analytics modernization and industry-vertical use cases through advanced generative AI capabilities.
TDC Q3 Prospect not so Rosy
Despite Teradata’s strong portfolio and partner base, on-premises erosion and elongated deal cycles have negatively impacted the overall financial performance.
The company’s shares have declined 40.7% year to date compared with the Zacks Computer & Technology sector’s rise of 14.8%.
This Zacks Rank #3 (Hold) company reported a 6% year-over-year decline in second-quarter 2024 revenues, amounting to $436 million on a reported basis and a 3% decline at cc. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for third-quarter 2024 revenues is pegged at $427.46 million, indicating a 2.41% year-over-year decline.
For third-quarter 2024, non-GAAP earnings are expected to be between 54 and 58 cents per share. The consensus mark for earnings is pegged at 54 cents, which has increased by 7 cents in the past 30 days.
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