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Teradata (TDC) Launches VantageCloud Lake On Google Cloud
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Teradata (TDC - Free Report) is expanding its footprint in the cloud analytics and AI landscape with the launch of Teradata VantageCloud Lake on Alphabet’s (GOOGL - Free Report) cloud business, Google Cloud.
The new offering leverages the strengths of both Teradata and Alphabet’s Google Cloud to deliver Trusted AI, featuring key components such as Teradata’s ClearScape Analytics and seamless integrations with Google Cloud’s Vertex AI platform and Gemini models.
Aimed at providing a comprehensive cloud analytics and data platform for AI, VantageCloud Lake enables enterprises to scale predictive AI initiatives and power new generative AI use cases with enhanced security, transparency and performance, addressing the everyday challenges of AI deployment and production.
Teradata Rides on Expanding Partner Base
The latest move bodes well with Teradata’s commitment to capitalize on strong demand through VantageCloud and ClearSpace Analytics solutions.
In the first quarter of 2024, TDC saw significant growth in Cloud Annual Recurring Revenue (ARR), which reached $525 million, up 36% year over year 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 Microsoft (MSFT - Free Report) , Anaconda and Amazon (AMZN - Free Report) has been a major growth driver.
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, Teradata also announced at Microsoft Build that Teradata AI Unlimited was available in private preview in Microsoft Fabric, enabling frictionless, on-demand AI/ML workload access for exploring, discovering and innovating new use cases within the ecosystem.
In April, Teradata inked a partnership with Anaconda. This collaboration aims to seamlessly integrate the vast ecosystem of Python and R packages from Anaconda Repository into Teradata VantageCloud, heralding a new era of enhanced support for open-source AI innovation.
Teradata announced the renewal and expansion of its Strategic Collaboration Agreement with Amazon Web Services (AWS) in May, aimed at accelerating cloud migration, enhancing data analytics modernization and maximizing AI opportunities for customers.
TDC Q2 Performance Not So Rosy
Despite Teradata’s strong portfolio and partner base, on-premises erosion and elongated deal cycles have negatively impacted TDC’s top line.
The company’s shares have declined 21.6% year to date compared with the Zacks Computer & Technology sector’s rise of 22.4%.
This Zacks Rank #3 (Hold) company reported a 2.3% year-over-year decline in first-quarter 2024 revenues, amounting to $465 million on a reported basis and a 1% decline at cc. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the second quarter of 2024 revenues is pegged at $447.58 million, indicating a 3.12% year-over-year decline.
For second-quarter 2024, non-GAAP earnings are expected to be between 46 and 50 cents per share. The consensus mark for earnings is pegged at 48 cents, which remained unchanged in the past 30 days.
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Teradata (TDC) Launches VantageCloud Lake On Google Cloud
Teradata (TDC - Free Report) is expanding its footprint in the cloud analytics and AI landscape with the launch of Teradata VantageCloud Lake on Alphabet’s (GOOGL - Free Report) cloud business, Google Cloud.
The new offering leverages the strengths of both Teradata and Alphabet’s Google Cloud to deliver Trusted AI, featuring key components such as Teradata’s ClearScape Analytics and seamless integrations with Google Cloud’s Vertex AI platform and Gemini models.
Aimed at providing a comprehensive cloud analytics and data platform for AI, VantageCloud Lake enables enterprises to scale predictive AI initiatives and power new generative AI use cases with enhanced security, transparency and performance, addressing the everyday challenges of AI deployment and production.
Teradata Rides on Expanding Partner Base
The latest move bodes well with Teradata’s commitment to capitalize on strong demand through VantageCloud and ClearSpace Analytics solutions.
Teradata Corporation Price and Consensus
Teradata Corporation price-consensus-chart | Teradata Corporation Quote
In the first quarter of 2024, TDC saw significant growth in Cloud Annual Recurring Revenue (ARR), which reached $525 million, up 36% year over year 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 Microsoft (MSFT - Free Report) , Anaconda and Amazon (AMZN - Free Report) has been a major growth driver.
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, Teradata also announced at Microsoft Build that Teradata AI Unlimited was available in private preview in Microsoft Fabric, enabling frictionless, on-demand AI/ML workload access for exploring, discovering and innovating new use cases within the ecosystem.
In April, Teradata inked a partnership with Anaconda. This collaboration aims to seamlessly integrate the vast ecosystem of Python and R packages from Anaconda Repository into Teradata VantageCloud, heralding a new era of enhanced support for open-source AI innovation.
Teradata announced the renewal and expansion of its Strategic Collaboration Agreement with Amazon Web Services (AWS) in May, aimed at accelerating cloud migration, enhancing data analytics modernization and maximizing AI opportunities for customers.
TDC Q2 Performance Not So Rosy
Despite Teradata’s strong portfolio and partner base, on-premises erosion and elongated deal cycles have negatively impacted TDC’s top line.
The company’s shares have declined 21.6% year to date compared with the Zacks Computer & Technology sector’s rise of 22.4%.
This Zacks Rank #3 (Hold) company reported a 2.3% year-over-year decline in first-quarter 2024 revenues, amounting to $465 million on a reported basis and a 1% decline at cc. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the second quarter of 2024 revenues is pegged at $447.58 million, indicating a 3.12% year-over-year decline.
For second-quarter 2024, non-GAAP earnings are expected to be between 46 and 50 cents per share. The consensus mark for earnings is pegged at 48 cents, which remained unchanged in the past 30 days.