Commvault Systems (NASDAQ: CVLT) reported Q1 EPS of $0.21, $0.02 better than the analyst estimate of $0.19. Revenue for the quarter came in at $166 million versus the consensus estimate of $160.09 million.

N. Robert Hammer, Commvault's Chairman, President and CEO stated, "We began fiscal year 2018 with a solid first quarter, highlighted by 18% year-over-year software revenue growth. All of our global sales regions contributed to our year-over-year software revenue growth which was driven by a significant increase in the dollar amount of enterprise revenue transactions and strong initial results from our new committed subscription based pricing model. We continue to see improved business momentum as a result of our industry leading technology and services that provides customers the ability to move and manage applications and data in the cloud, as well as to easily migrate applications and data to more modern on-premise infrastructures. We have made very good progress across all aspects of the company and we continue to build the foundation for sustained solid revenue and earnings growth."

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