CommVault Posts More Double-Digit Growth, Stock Up

Source: Investor's Business Daily

Author: Brian Deagon

Data storage firm CommVault shot past quarterly earnings and revenue forecasts with its fiscal Q2 report out early Tuesday.

Earnings of 24 cents a share beat analyst views by 3 cents and rose 26% from a year ago, the company's fourth straight quarter of double-digit EPS growth. Revenue rose 30% to $97.5 million, the seventh straight quarter of double-digit sales growth, for the quarter ended Sept. 30. That beats the consensus estimate of $93 million by analysts polled by Thomson Reuters.

"It's impressive that they continue to post strong growth and beat expectations quarter after quarter," said Shebly Seyrafi, an analyst at FBN Securities. "They have a good integrated solution and are taking market share from Symantec (SYMC) and IBM (IBM)."

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