Elastic N.V. Up 20% Following Upbeat Quarterly Results, Outlook
Shares of Elastic N.V. (ESTC), a data analytics company, are rising more than 20% Friday morning after reporting upbeat first-quarter results. The company’s second-quarter as well as full-year outlook came in above the Street view.
Elastic posted a net loss of $48.51 million or $0.50 per share for the first quarter, narrower than $69.55 million or $0.74 per share in the same quarter a year ago.
Excluding one-time items, the company reported earnings of $0.25 per share compared with a loss of $0.15 per share last year. Analysts on average, polled by Thomson-Reuters were expecting earnings of $0.11 per share.
Total revenue for the quarter was $293.75 million, an increase of 17% year-over-year.
For the second quarter, the company expects revenue in the range of $303 million – $305 million. Adjusted earnings per share is expected to be between $0.23 and $0.25. Analysts expect the company to report earnings of $0.20 per share on revenue of $301.87 million for the quarter.
For the full year, revenue is expected in the range of $1.242 billion – $1.250 billion, and adjusted EPS to be in the range of $1.01 – $1.11. The consensus estimate for earnings stands at $0.99 per share and for revenue at $1.24 billion.
ESTC is at $74.41 currently. It has traded in the range of $46.18 – $91.30 in the last 52 weeks.
Source: Read Full Article