Elastic Third Quarter 2024 Earnings: Beats Expectations
Elastic (NYSE:ESTC) Third Quarter 2024 Results
Key Financial Results
Revenue: US$328.0m (up 19% from 3Q 2023).
Net income: US$176.1m (up from US$72.6m loss in 3Q 2023).
Profit margin: 54% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses.
EPS: US$1.76 (up from US$0.76 loss in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Elastic Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.
Performance of the American Software industry.
The company's shares are down 9.7% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 3 warning signs for Elastic you should be aware of, and 1 of them is a bit unpleasant.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
