Commvault (CVLT) has announced a third-quarter net income of $17.14 million, demonstrating a significant improvement from a loss of $310,000 last year. That registers a profit per share of $0.38, adjusted from last year's loss per share of $0.01. The Non-GAAP earnings per share saw a hike as well, increasing to $0.78 from the previous $0.62. This exceeded the expectations of eight analysts surveyed by Thomson Reuters, who had predicted a profit per share of $0.73 for the quarter. However, these analyst estimates usually omit any unique items.
According to Commvault's third-quarter report, total revenues increased to $216.81 million from $195.07 million last year, comfortably surpassing the average analyst estimate of $208.06 million. The total Annual Recurring Revenue (ARR) was recorded at $752 million, indicating a 17% increase on a year-over-year basis.
Looking forward, for the fourth quarter, Commvault anticipates total revenues to fall in the range of $210 million to $214 million. Similarly, they expect the fiscal year 2024 to close with total revenues between $826 million to $830 million.
