Elastic released its quarterly results late Thursday and beat Wall Street estimates on its top and bottom lines, but the company presented an earnings forecast below expectations. Elastic stock fell.
The company reported an adjusted loss of 15 cents a share on revenue of $250.1 million. Analysts expected Elastic to record a loss of 17 cents a share on revenue of $246.3 million, according to FactSet.
Elastic stock dropped 5.2% to 80.60 during after-hours trading on the stock market today. Results were for its fiscal first quarter.
For its second quarter, Elastic expects a net loss of 25 cents to 31 cents a share. Analysts were predicting a loss of 9 cents a share. The company expects revenue in the range of $260 million to $262 million, the midpoint of which is in line with views.
Elastic says its search technology finds information and insights from large amounts of data, available for a diverse set of applications and use cases, with a cloud-based, software-as-a-service business model.
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