Shares of Netherlands-based tech firm Elastic NV (NYSE: ESTC) continued its rally on Thursday, a day after it smashed past Wall Street estimates for the first quarter of 2020. Elastic stock, which had gained 21% so far this year till market close on Wednesday, shot up 15% during morning trade on Thursday.
A SaaS leader that offers solutions in data analytics and security, Elastic went public last year.
The company said its first-quarter revenues rose 58% to $89.7 million on strong customer momentum. Analysts had projected Q1 revenues of $86 million.
Subscription revenues accounted for 92% of total revenues. Subscription customers increased to over 8,800 in Q1, compared to around 8,100 in the prior sequential quarter.
Calculated billings improved 51% year-over-year.
Down the line, adjusted loss per share was narrowed by 6 cents to $0.32 in Q1, compared to $0.41 expected by the street.
Outlook
For the second quarter, the company expects total revenues between $95 million and $97 million and adjusted loss per share between $0.32 and $0.30.
For the full year, the company gave better guidance. For this period, revenues are expected in the range of $406-412 million, compared to the earlier estimate of $397-403 million.
Adjusted loss per share of $1.40 – $1.24 is expected in the place of the prior projection of a wider loss of $1.49 – $1.33.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
MCD Earnings: McDonald’s Q3 2024 revenues and adj. profit beat estimates
Fast-food chain McDonald’s Corporation (NYSE: MCD) Tuesday reported a modest increase in sales and adjusted earnings for the third quarter of 2024. The numbers also came in above estimates. The
PFE Earnings: Key quarterly highlights from Pfizer’s Q3 2024 financial results
Pfizer Inc. (NYSE: PFE) reported its third quarter 2024 earnings results today. Revenues increased 31% year-over-year to $17.7 billion. Revenues increased 32% operationally. Net income was $4.46 billion, or $0.78
Ford Motor Company (F) Q3 2024 adj. earnings rise and exceed estimates
Ford Motor Company (NYSE: F) reported an increase in sales for the third quarter of 2024. The car maker's adjusted profit rose and topped expectations. September quarter revenue advanced 5%
Comments
Comments are closed.