Elastic (ESTC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Elastic (ESTC) reported $327.96 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 19.4%. EPS of $0.36 for the same period compares to $0.17 a year ago.
The reported revenue represents a surprise of +2.33% over the Zacks Consensus Estimate of $320.48 million. With the consensus EPS estimate being $0.31, the EPS surprise was +16.13%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $20.33 million compared to the $20.73 million average estimate based on seven analysts. The reported number represents a change of +7.2% year over year.
Revenue- Subscription: $307.63 million versus $299.75 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +20.4% change.
Revenue- Subscription- Elastic Cloud: $143.38 million versus $144.52 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +29.5% change.
Revenue- Subscription- Other subscription: $164.25 million versus the four-analyst average estimate of $155.20 million. The reported number represents a year-over-year change of +13.4%.
View all Key Company Metrics for Elastic here>>>
Shares of Elastic have returned +10.8% over the past month versus the Zacks S&P 500 composite's +3.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Elastic N.V. (ESTC) : Free Stock Analysis Report
