Elastic (ESTC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Elastic (ESTC) reported $365.36 million in revenue for the quarter ended October 2024, representing a year-over-year increase of 17.6%. EPS of $0.59 for the same period compares to $0.37 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $354.24 million, representing a surprise of +3.14%. The company delivered an EPS surprise of +55.26%, with the consensus EPS estimate being $0.38.
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: $24.55 million compared to the $23.69 million average estimate based on seven analysts. The reported number represents a change of +7.4% year over year.
- Revenue- Subscription: $340.81 million versus $330.60 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +18.4% change.
- Revenue- Subscription- Elastic Cloud: $168.84 million versus $163.59 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +25.1% change.
- Revenue- Subscription- Other subscription: $171.97 million versus $167.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +12.6% change.
Shares of Elastic have returned +14.1% over the past month versus the Zacks S&P 500 composite's +1% 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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