Teradata reported third quarter 2024 financial results, with total revenue at $440 million, remaining flat year-over-year on a reported basis but increasing 2% in constant currency. Recurring revenue grew 3% to $372 million, or 5% in constant currency, while consulting services revenue declined 14% to $61 million.
The company's Public Cloud Annual Recurring Revenue (ARR) reached $570 million, marking a 26% increase year-over-year on a reported basis and 24% in constant currency. However, total ARR decreased 3% to $1.482 billion, or 4% in constant currency, compared to the prior year.
Teradata's non-GAAP diluted earnings per share (EPS) for Q3 2024 was $0.69, surpassing $0.42 in Q3 2023. The company increased its full-year 2024 non-GAAP diluted EPS guidance to a range of $2.30 to $2.34 and raised its free cash flow outlook to $270 million to $290 million, reflecting confidence in its operational execution.
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