Elastic Reports Third Quarter Fiscal 2024 Financial Results

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Go back to Elastic Reports Third Quarter Fiscal 2024 Financial Results

Elastic (ESTC) down despite Q3 beat amid 'decelerating RPO growth' and AI investments

February 29, 2024 4:42 PM EST

Elastic N.V. (NYSE: ESTC) reported better-than-expected Q3 earnings and revenue, while Q4 2024 guidance matched analysts expectations.

Still, the companys shares plummeted 11% in premarket trading.

The companys Q3 earnings per share (EPS) were reported at $0.36, beating analyst expectations of $0.32. Revenue came in at $328 million, also exceeding the consensus estimate of $320.68 million.

The revenue from Elastic Cloud for the quarter stood at $143 million, marking a 29% increase from the previous year.

Regarding customer metrics, Elastic N.V. reported having more than 1,270... More