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: Data storage provider CommVault Systems
So what: First fiscal quarter non-GAAP EPS of $0.21 trounced the $0.17 consensus estimate and increased 91% year over year. GAAP EPS of $0.15 grew 88% year over year. Revenue of $91.5 million grew 38% year over year and was well ahead of the consensus expectation of $83.6 million.
Now what: The company said results were driven by "record enterprise software deals and improved results across all geographies." The press release stated the company made "substantial investments to position the company for longer term growth," a potential plus for the outlook. The company's revenue and earnings growth seem poised to continue at an impressive pace, pumping its non-GAAP P/E ratio up to 96 times and non-GAAP forward P/E ratio up to a still-rich 42 times.
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