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Teradata Corporation held its Second Quarter 2023 Earnings Call, discussing the company’s financial results and outlook. Teradata’s President and CEO, Steve McMillan, led the call, followed by CFO Claire Bramley.

During the call, McMillan highlighted the company’s solid performance in key areas of the business. Teradata experienced a 10% year-on-year increase in total Annual Recurring Revenue (ARR), driven by strong growth in public cloud ARR, which grew by 77% year-on-year. The company’s cloud net expansion rate for the trailing 12 months was 121% in Q2, reflecting customer migrations to the cloud and their expansion of workloads and use cases on Teradata’s Vantage Cloud platform.

Teradata reported 2 million in total revenue for the second quarter, a 10% increase in constant currency compared to the same period last year. This marks the first meaningful year-over-year total revenue growth for Teradata since Q2 2021.

The company’s technology innovations were also highlighted during the call. Teradata recently enhanced its VantageCloud Lake on Microsoft Azure, offering enterprise-scale cloud-native architecture with AI and ML capabilities. The acquisition of Stemma, a cloud-native data catalog solution, was announced as well, aimed at further enhancing Teradata’s analytics platform.

McMillan emphasized Teradata’s commitment to ongoing technology innovation, sales and marketing execution, partner engagement, and environmental, social, and governance (ESG) initiatives. The company is focused on providing solutions that help businesses address complex challenges and drive value with AI.

Overall, Teradata’s solid financial performance, coupled with its focus on innovation and customer success, positions the company for continued growth and success in the future.

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