Teradata(US:TDC) GlobeNewswire News Roomยท2024-07-21 18:43Financial Performance - Teradata reported its fourth quarter and full year 2022 financial results on February 13, 2023, projecting a public cloud Annual Recurring Revenue (ARR) increase of 53% to 57% year-over-year and total ARR growth of 6% to 8% year-over-year for 2023 [2] - On February 12, 2024, Teradata announced that public cloud ARR increased by only 48% for the full year 2023, which was below the company's guidance, while total ARR increased by only 6%, at the low end of its expectations [3] - The disappointing results were attributed to "deal timing issues," which the company was aware of when issuing its guidance in February 2023 [3] Stock Market Reaction - Following the announcement of the fourth quarter and full year 2023 results, Teradata's stock price fell by $10.57 per share, or 21.66%, from $48.79 to $38.22 on February 13, 2024 [3] - On December 7, 2023, a revelation regarding a potential delay of an eight-figure deal led to a stock price drop of $2.89 per share, or 6.24%, from $46.29 to $43.40 [10] Legal Actions - A securities class action lawsuit has been filed against Teradata in the United States District Court for the Southern District of California, alleging violations of federal securities laws due to misleading statements and omissions [8] - Investors have until August 13, 2024, to seek appointment as lead plaintiff in the class action [4][8]