Oceanport, New Jersey-based CommVault Systems, Inc. (Nasdaq:

) on Tuesday morning released financial results that beat Wall Street expectations. CommVault Systems, Inc reported that its 3rd quarter net income rose to $7.3 million, or 16 cents per share, up from $5.4 million, or 12 cents per share, a year earlier. Excluding special items, the company earned 22 cents per share. CommVault Systems, Inc reported revenue of $83.63 million, up 18% from $70.7 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 21 cents per share, on revenue of $78.08 million. Chairman, president and CEO N. Robert Hammer said, “We achieved an excellent third quarter which was highlighted by record quarterly revenues of $83.6 million and record Non-GAAP operating income of $15.0 million." CommVault Systems, Inc. (

) ended the previous trading session at $30.89 per share. Analysts covering the company's stock have a consensus price target of $30.88 per share. CommVault Systems, Inc develops solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. Read more