Commvault Q3 Profit Tops Estimates; Total Revenues Up 11%

(RTTNews) - Commvault (CVLT) reported third quarter net income of $17.14 million compared to a loss of $310 thousand, last year. Profit per share was $0.38 compared to a loss of $0.01. Non-GAAP earnings per share increased to $0.78 from $0.62. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.73, for the quarter. Analysts' estimates typically exclude special items.

Third quarter total revenues increased to $216.81 million from $195.07 million, previous year. Analysts on average had estimated $208.06 million in revenue. Total ARR was $752 million, up 17% year over year.

For the fourth quarter, the company expects total revenues to be between $210 million and $214 million. For fiscal 2024, the company expects total revenues to be between $826 million and $830 million.

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