Here's What Key Metrics Tell Us About Elastic (ESTC) Q4 Earnings

Core Insights - Elastic (ESTC) reported revenue of $335 million for the quarter ended April 2024, reflecting a year-over-year increase of 19.7% and a surprise of +1.78% over the Zacks Consensus Estimate of $329.15 million [1] - The company's EPS was $0.21, slightly down from $0.22 in the same quarter last year, with an EPS surprise of +10.53% compared to the consensus estimate of $0.19 [1] Revenue Breakdown - Revenue from Services was $24.02 million, exceeding the average estimate of $23.86 million by seven analysts, representing a year-over-year change of +0.8% [3] - Subscription revenue reached $310.98 million, surpassing the estimated $308.64 million, with a year-over-year increase of +21.4% [3] - Elastic Cloud subscription revenue was $147.98 million, above the average estimate of $145.25 million, showing a significant year-over-year growth of +31.7% [3] - Other subscription revenue amounted to $163 million, exceeding the estimated $159.95 million, with a year-over-year increase of +13.4% [3] Stock Performance - Over the past month, Elastic's shares have returned -3.3%, contrasting with the Zacks S&P 500 composite's +3.2% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]