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Mixed Results And Lowered Revenue Outlook Dragged Elastic N.V. (ESTC) in Q3

The article discusses the financial performance of Elastic N.V. (ESTC) in its third fiscal quarter, highlighting mixed results that led to a decline in its stock value. Despite reporting a revenue of $328 million, which was a 19% increase year-over-year, Elastic fell short of Wall Street's expectations. The company also provided a lower-than-expected revenue outlook for the next quarter, projecting between $356 million and $358 million, against the consensus estimate of $360 million. This guidance, coupled with a slight decrease in the non-GAAP operating margin from 13% to 12%, contributed to investor disappointment. Elastic's CEO, Ash Kulkarni, acknowledged the shortfall but emphasized the company's focus on innovation and growth in areas like generative AI and security. However, these efforts were not enough to prevent a 14% drop in ESTC's stock price in after-hours trading following the earnings release.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/mixed-results-and-lowered-revenue-outlook-dragged-elastic-n-v-estc-in-q3/ar-AA1vxpBs ]