Categories Earnings, Technology

Elastic stock stretches upwards following strong Q1 earnings

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.

Elastic NV Customer Trend

READ: Coupa Software Q2 earnings: What’s on the cards

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.

READ: Nutanix beats the market in Q4, stock jumps

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

Infographic: Nvidia (NVDA) Q4 revenue up 61%; earnings beat

Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the

Nutanix (NTNX) Earnings: 2Q21 Key Numbers

Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3

Macy’s (M) expects digital channels to generate approx. $10 billion in sales by 2023

Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top