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Oceanport, New Jersey-based CommVault Systems, Inc.
CVLT 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. (
CVLT) 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.
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from Benzinga's Company news.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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