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Elastic (ESTC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended April 2023, Elastic (ESTC) reported revenue of $279.94 million, up 17% over the same period last year. EPS came in at $0.22, compared to -$0.16 in the year-ago quarter.

The reported revenue represents a surprise of +0.97% over the Zacks Consensus Estimate of $277.25 million. With the consensus EPS estimate being $0.09, the EPS surprise was +144.44%.

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: $23.82 million versus the seven-analyst average estimate of $19.06 million. The reported number represents a year-over-year change of +35%.

  • Revenue- Subscription: $256.12 million versus $258.60 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.

  • Revenue- Subscription- Elastic Cloud: $112.34 million versus $116.45 million estimated by four analysts on average.

  • Revenue- Subscription- Other subscription: $143.78 million compared to the $142 million average estimate based on two analysts.

View all Key Company Metrics for Elastic here>>>

Shares of Elastic have returned +34.6% over the past month versus the Zacks S&P 500 composite's +0.4% 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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Zacks Investment Research