For the quarter ended July 2024, Elastic (ESTC Quick QuoteESTC - Free Report) reported revenue of $347.42 million, up 18.3% over the same period last year. EPS came in at $0.35, compared to $0.25 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $344.4 million, representing a surprise of +0.88%. The company delivered an EPS surprise of +40.00%, with the consensus EPS estimate being $0.25.

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.

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

  : $23.65 million versus $24.77 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +0.6% change.

• Revenue- Subscription

  : $323.77 million versus the seven-analyst average estimate of $319.67 million. The reported number represents a year-over-year change of +19.8%.

• Revenue- Subscription- Elastic Cloud

  : $157.28 million versus the five-analyst average estimate of $155 million. The reported number represents a year-over-year change of +29.8%.

• Revenue- Subscription- Other subscription

  : $166.49 million compared to the $164.66 million average estimate based on five analysts. The reported number represents a change of +11.7% year over year.

View all Key Company Metrics for Elastic here>>>

Shares of Elastic have returned -6.1% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.