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Compared to Estimates, Elastic (ESTC) Q3 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

For the quarter ended January 2023, Elastic (ESTC) reported revenue of $274.57 million, up 22.6% over the same period last year. EPS came in at $0.17, compared to -$0.12 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $272.71 million, representing a surprise of +0.68%. The company delivered an EPS surprise of +240.00%, with the consensus EPS estimate being $0.05.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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: $18.95 million versus the seven-analyst average estimate of $17.46 million. The reported number represents a year-over-year change of +32.3%.

  • Total Subscription Revenue: $255.61 million versus $254.70 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +21.9% change.

  • Revenue-Subscription - Elastic Cloud: $110.74 million versus $112.24 million estimated by four analysts on average.

  • Revenue-Subscription - Other subscription: $144.87 million compared to the $142.96 million average estimate based on three analysts.

View all Key Company Metrics for Elastic here>>>

Shares of Elastic have returned -8.9% over the past month versus the Zacks S&P 500 composite's -3.9% 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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To read this article on Zacks.com click here.

Zacks Investment Research