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MarketWatch First Take: Cloudera’s first quarter since merger has unpleasant surprises, but CEO is upbeat

Cloudera Inc. had some unpleasant surprises for investors in the first quarterly results since its merger with rival Hortonworks Inc., but its chief executive said that the melding of the two cloud-software-application companies was going better and faster than he had expected.

In October, Cloudera CLDR, +1.74% unveiled an all-stock deal valued at about $5.2 billion to merge with Hortonworks, which was completed in January. But in a conference call to discuss its earnings Wednesday, the company said that it had a one-time purchase-price adjustment from the deal that would reduce its fiscal 2020 GAAP revenue by $62 million.

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