News

For the quarter ended April 2024, Elastic (ESTC) reported revenue of $335 million, up 19.7% over the same period last year. EPS came in at $0.21, compared to $0.22 in the year-ago quarter.

The reported revenue represents a surprise of +1.78% over the Zacks Consensus Estimate of $329.15 million. With the consensus EPS estimate being $0.19, the EPS surprise was +10.53%.

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: $24.02 million versus the seven-analyst average estimate of $23.86 million. The reported number represents a year-over-year change of +0.8%.
• Revenue- Subscription: $310.98 million versus $308.64 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +21.4% change.
• Revenue- Subscription- Elastic Cloud: $147.98 million compared to the $145.25 million average estimate based on four analysts. The reported number represents a change of +31.7% year over year.
• Revenue- Subscription- Other subscription: $163 million versus $159.95 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +13.4% change.

View all Key Company Metrics for Elastic here>>>

Shares of Elastic have returned -3.3% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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