CommVault Systems Inc. (CVLT) shares surged 5.5% in pre-market trading on Tuesday after the data management software company reported better-than-expected third quarter fiscal 2025 earnings and revenue.
For the quarter ended December 31, 2024, CommVault posted adjusted earnings per share of $0.94, surpassing analysts' consensus estimate of $0.87. Revenue of $262.6 million also topped the $245.6 million projected by Wall Street.
The strong earnings performance fueled a rally in CommVault's stock price ahead of the market open. Investors cheered the company's ability to beat profit and sales expectations, a positive sign amid concerns over slowing IT spending in the current economic climate. CommVault's annual recurring revenue (ARR) reached $890 million in Q3, reflecting ongoing demand for its data protection and management solutions.
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