Commvault Systems Reports Q3 Earnings Beat Driven by Strong Subscription Growth
Commvault Systems (CVLT) reported third-quarter financial results that exceeded analyst expectations for both earnings and revenue. The company posted a Non-GAAP EPS of $1.38, surpassing estimates by $0.14, while total revenue reached $312.39 million, representing a 13.1% increase year-over-year. The growth was primarily fueled by the company's transition to a subscription-based model. Subscription revenue rose 21% year-over-year to $269 million, contributing significantly to an annualized recurring revenue (ARR) of $1,104 million, which grew by 20% compared to the previous year.
Tickers: $CVLT
Topics: annualized recurring revenue earnings beat revenue growth subscription revenue
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