TERADATA CORPORATION - TDC STOCK NEWS

The Schall Law Firm has announced a class action lawsuit against Teradata (NYSE:TDC) for alleged violations of securities laws. The lawsuit covers investors who purchased Teradata securities between February 13, 2023, and February 12, 2024. The firm claims that Teradata made false and misleading statements about its expanded business model and ability to close customer deals timely. Investors are encouraged to contact the firm before August 13, 2024, to discuss their rights. The class has not yet been certified, and affected shareholders can choose to participate or remain absent class members. The Schall Law Firm specializes in securities class action lawsuits and shareholder rights litigation.

Teradata (NYSE:TDC) has been named the official cloud analytics partner for the Los Angeles Clippers and Intuit Dome, the team's new arena opening Aug. 15, 2024. As a Founding Partner, Teradata will have special entitlement of the arena's Halo Loft Level. The partnership will leverage Teradata VantageCloud Lake for cloud analytics and AI technologies to enhance the fan experience.

The Teradata Halo Loft Level will offer premium hospitality with unique tech amenities. Intuit Dome, featuring innovative design elements like The Wall and the largest double-sided Halo Board, aims to redefine live experiences for sports and music events in Los Angeles.

Teradata announced its second quarter 2024 financial results, noting significant performance in cloud services but a decline in overall revenue.

Key highlights include:

• Public cloud ARR of $542M, up 31% year-over-year
• GAAP operating margin of 15.1%, up 800 basis points
• Non-GAAP operating margin of 22%, up 640 basis points
• GAAP diluted EPS of $0.38, up 124%
• Non-GAAP diluted EPS of $0.64, up 33%

However, total ARR decreased by 4% and total revenue fell by 6% to $436M.

The company also announced a global restructuring plan to optimize operations, reducing its workforce by 9-10%. This is expected to cut operating expenses by $75M-$80M annually, though initial costs will be $45M-$50M.

For Q3 2024, Teradata forecasts GAAP diluted EPS of $0.14-$0.18 and non-GAAP diluted EPS of $0.54-$0.58. Full-year 2024 guidance includes public cloud ARR growth of 28%-32% and total ARR decline of 2%-4%.

Teradata (NYSE: TDC) has announced a new integration of the DataRobot AI Platform with Teradata VantageCloud and ClearScape Analytics. This partnership aims to maximize AI potential for enterprises by providing greater flexibility in building and scaling AI models. Key features include:

1. Importing and operationalizing DataRobot's AI models at scale within VantageCloud
2. Access to advanced analytics for more users across the enterprise
3. Deployment of models with accountability, security, and trust
4. Scalable AI operationalization across all cloud providers and on-premises
5. Cost-effective scaling of DataRobot models for VantageCloud users

The integration is available today, offering enterprises the ability to accelerate AI adoption and innovation while maintaining trust and governance.

Teradata (NYSE: TDC) has announced the release date for its 2024 second quarter financial results. The company will unveil its earnings after the market closes on Monday, August 5, 2024. Following the release, Teradata will host a conference call and live webcast at 2 p.m. PT on the same day to discuss the results and provide a business and financial update. Investors and interested parties can access the live webcast and replay on the Investor Relations page of Teradata's website at investor.teradata.com.

Teradata (NYSE: TDC) has appointed Chad Bennett as Senior Vice President, Investor Relations, and Corporate Development. Bennett brings over 20 years of experience in financial modeling, valuation, and competitive intelligence from Craig-Hallum Capital, where he covered SaaS and software companies, including Teradata. Claire Bramley, Teradata's CFO, emphasized Bennett's ability to enhance investor relations and identify corporate opportunities. Bennett expressed enthusiasm about Teradata's leading data analytics capabilities and opportunities for growth as a cloud analytics and data platform provider for Trusted AI.

Teradata announced the launch of Teradata VantageCloud Lake on Google Cloud, enhancing its cloud analytics and data platform for AI. The collaboration integrates Teradata's ClearScape Analytics with Google Cloud's Vertex AI platform and Gemini models, enabling enterprises to scale AI initiatives and power new generative AI use cases. This partnership aims to address common AI deployment challenges, offering seamless integration, security, and performance. Notably, ClearScape Analytics supports end-to-end AI/ML pipelines and generative AI with Gemini models, promising faster deployment and profitable growth. The new solutions are now generally available, with additional features slated for private preview in the first half of 2025.

Teradata (NYSE: TDC) will participate in the UBS Women in Tech Summit 2024 on June 12th in San Francisco, CA.

Claire Bramley, the company's CFO, will present at 8:00 a.m. PT.

The presentation will be webcast live on Teradata's Investor Relations page and available for replay for 30 days.

Teradata provides a comprehensive cloud analytics and data platform for AI, aimed at enhancing decision-making and driving business results.

A new survey conducted by Teradata and NewtonX reveals that while enterprise leaders believe in AI's potential, they face significant challenges in data reliability and strategic alignment.

Notably, 70% of executives indicate their AI strategy isn't fully aligned with their business strategy. Furthermore, 40% don't trust their data to produce accurate AI outputs, although 61% do trust the reliability of their AI outcomes. Only 12% have implemented AI solutions company-wide, with most preferring departmental-level applications.

Executives see AI's main benefits in productivity and customer experience, yet concerns about AI missteps impacting customer satisfaction and company reputation persist. Barriers to effective AI scaling include a lack of technical talent, budget constraints, and insufficient infrastructure.

Despite these challenges, 60% of respondents reported a demonstrable ROI from AI projects, and 84% expect results within a year. The survey underscores the need for clean, reliable data and strategic partnerships to enhance AI trust and integration.