For the quarter ended April 2023, Elastic (ESTC) reported revenue of $279.94 million, up 17% over the same period last year. EPS came in at $0.22, compared to -$0.16 in the year-ago quarter.
The reported revenue represents a surprise of +0.97% over the Zacks Consensus Estimate of $277.25 million. With the consensus EPS estimate being $0.09, the EPS surprise was +144.44%.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
Here is how Elastic performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Services: $23.82 million versus the seven-analyst average estimate of $19.06 million. The reported number represents a year-over-year change of +35%.
- Revenue- Subscription: $256.12 million versus $258.60 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.
- Revenue- Subscription- Elastic Cloud: $112.34 million versus $116.45 million estimated by four analysts on average.
- Revenue- Subscription- Other subscription: $143.78 million compared to the $142 million average estimate based on two analysts.
View all Key Company Metrics for Elastic here>>>
Shares of Elastic have returned +34.6% over the past month versus the Zacks S&P 500 composite’s +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
Elastic N.V. (ESTC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.