Cloudera Inc. shares jumped by double digits in early trading Thursday after posting quarterly results that show it may be getting past a two-quarter swoon that followed its acquisition of Hortonworks. The Palo Alto cloud computing company’s shares lost about half its value this year, dropping to about $2 billion, after it merged with Santa Clara-based Hortonworks Inc. in a deal that was valued at $5.2 billion.
Tom Reilly, the Cloudera CEO who engineered the merger, left the company in June as sales slowed. But Wall Street analysts saw reason for hope in Wednesday’s announcement of second quarter results in which Cloudera reported a narrower loss and showed sales that came in above expectations.
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