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Teradata Corporation recently held its Second Quarter 2023 Earnings Call, where company executives discussed the financial results and outlook for the quarter. Teradata’s President and Chief Executive Officer, Steve McMillan, led the call, followed by Chief Financial Officer, Claire Bramley.

During the call, it was announced that Teradata achieved solid performance in Q2 2023, with a 10% year-on-year growth in total Annual Recurring Revenue (ARR). The company’s cloud strategy played a significant role in this growth, with public cloud ARR increasing by 77% year-on-year. Teradata’s Teradata Vantage Cloud analytics and data platform were instrumental in driving this expansion, as customers realized business results and expanded their workloads in the cloud.

Teradata reported total revenue of 2 million for the second quarter, marking the first meaningful year-over-year revenue growth since Q2 2021. The company’s cloud business and ongoing technology innovation were key drivers of this milestone. Teradata’s non-GAAP earnings per share of {TRESC}.48 exceeded expectations and showcased the company’s execution and financial discipline.

During the call, Steve McMillan highlighted the company’s focus on strengthening its technology, effective sales and marketing execution, partner engagement, and environmental, social, and governance (ESG) commitments. Notably, Teradata enhanced its cloud-native architecture, Teradata VantageCloud Lake, on Microsoft Azure, providing enterprise-scale capabilities and support for AI and machine learning (ML). The company also announced the acquisition of Stemma, a cloud-native data catalog solution, to further enhance its analytics platform.

Teradata emphasized its stance on AI, viewing it as part of a broader strategic imperative. The company aims to help business leaders tackle increasing data complexity and solve complex challenges through its platform and AI capabilities.

Overall, Teradata’s Second Quarter 2023 Earnings Call highlighted the company’s solid performance, strong growth in the cloud business, and ongoing commitment to technological innovation and market leadership in the analytics and data platform space.

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