Here's What Key Metrics Tell Us About Elastic (ESTC) Q2 Earnings
Elastic (ESTC) reported $310.61 million in revenue for the quarter ended October 2023, representing a year-over-year increase of 17.5%. EPS of $0.37 for the same period compares to $0.00 a year ago.
The reported revenue represents a surprise of +2.24% over the Zacks Consensus Estimate of $303.81 million. With the consensus EPS estimate being $0.24, the EPS surprise was +54.17%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $22.87 million compared to the $25.19 million average estimate based on seven analysts. The reported number represents a change of -1.4% year over year.
Revenue- Subscription: $287.74 million versus $278.85 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +19.3% change.
Revenue- Subscription- Elastic Cloud: $134.99 million compared to the $132.02 million average estimate based on six analysts.
Revenue- Subscription- Other subscription: $152.75 million versus $146.43 million estimated by five analysts on average.
View all Key Company Metrics for Elastic here>>>
Shares of Elastic have returned +6.9% over the past month versus the Zacks S&P 500 composite's +10.7% 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
