Why CommVault Shares Vaulted Higher (CVLT)

Why CommVault Shares Vaulted Higher

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of CommVault (NASDAQ: CVLT ) have vaulted higher today by as much as 12% after the company reported better-than-expected earnings.

So what: Revenue in the quarter hit a new record at $128.1 million, which turned into non-GAAP earnings per share of $0.39 by the time you reach the bottom line. Both results topped analyst forecasts of $128.1 million in sales and $0.32 per share in profit.

Now what: CEO N. Robert Hammer said software sales grew 28%, driven by all-time high volumes of enterprise deals and solid performance across all major geographies. CommVault also continues to invest in future growth, but was able to still generate non-GAAP operating profits. The company did not repurchase any shares during the quarter and still has $102.8 million remaining under the current plan.

Interested in more info on CommVault? Add it to your watchlist by clicking here.

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