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Elastic (ESTC) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended July 2023, Elastic (ESTC - Free Report) reported revenue of $293.75 million, up 17.5% over the same period last year. EPS came in at $0.25, compared to -$0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $284.65 million, representing a surprise of +3.20%. The company delivered an EPS surprise of +127.27%, with the consensus EPS estimate being $0.11.
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: $23.51 million versus the seven-analyst average estimate of $20.47 million.
Revenue- Subscription: $270.25 million versus $266.72 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +16.6% change.
Revenue- Subscription- Elastic Cloud: $121.17 million versus $119.71 million estimated by five analysts on average.
Revenue- Subscription- Other subscription: $149.08 million versus $144.16 million estimated by five analysts on average.
Shares of Elastic have returned -1.5% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Elastic (ESTC) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended July 2023, Elastic (ESTC - Free Report) reported revenue of $293.75 million, up 17.5% over the same period last year. EPS came in at $0.25, compared to -$0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $284.65 million, representing a surprise of +3.20%. The company delivered an EPS surprise of +127.27%, with the consensus EPS estimate being $0.11.
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: $23.51 million versus the seven-analyst average estimate of $20.47 million.
- Revenue- Subscription: $270.25 million versus $266.72 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +16.6% change.
- Revenue- Subscription- Elastic Cloud: $121.17 million versus $119.71 million estimated by five analysts on average.
- Revenue- Subscription- Other subscription: $149.08 million versus $144.16 million estimated by five analysts on average.
View all Key Company Metrics for Elastic here>>>Shares of Elastic have returned -1.5% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.