© Reuters. Elastic (ESTC) shares plunge 11% despite Q3 earnings and revenue beat
Elastic N.V. (NYSE:) reported better-than-expected Q3 earnings and revenue, while Q4 2024 guidance matched analysts’ expectations.
Still, the company’s shares plummeted 11% in after-hours trading.
The company’s Q3 earnings per share (EPS) were reported at $0.36, beating analysts’ 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 customers with an Annual Contract Value (ACV) exceeding $100,000, up from over 1,220 in Q2 FY24 and over 1,110 in Q3 FY23.
The total subscription customer count was approximately 20,800, up from around…
