Commvault Posts 50c EPS in Q1, Topping Expectations
CVLT has more than doubled off its 52-week low of $71.75.
Summary
Commvault delivered Q1 EPS of 50c, beating expectations, with subscription revenue reaching $267M. The earnings beat signals that the shift to recurring revenue is gaining traction, supported by robust subscription and SaaS growth highlighted in the recent 10-K. This follows a multi-year Microsoft partnership announced in June and a $250M buyback program. Watch for management commentary on the earnings call for full-year guidance and any update on the securities class action lawsuits.
At the time of this announcement, CVLT was trading at $151.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $71.75 to $200.68. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.