DJ Elastic Rises on Raised FY Outlook

By Maria Armental

Elastic NV's shares rose 7% to $128.50 in after-hours trading after the enterprise search provider raised financial projections for the year on better-than-expected quarterly results, including a 43% revenue increase.

It now expects an adjusted loss of 32 cents to 40 cents a share and $568 million to $572 million in revenue for the year that ends in April, compared with its earlier view of an adjusted loss of 69 cents to 83 cents a share and $544 million to $550 million in revenue.

Second-quarter net loss narrowed to $29.2 million, or 34 cents a share. On an adjusted basis, the net loss narrowed to 3 cents a share from 22 cents a share.

Revenue rose to $144.9 million from $101.1 million a year earlier.

Elastic had projected an adjusted loss of 20 cents to 22 cents a share and $129 million to $131 million in revenue.

This quarter, Elastic projects an adjusted loss of 14 cents to 16 cents a share and $145 million to $147 million in revenue.

The company's stock, which has been trading at record levels, closed Wednesday slightly down at $119.90.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

December 02, 2020 17:53 ET (22:53 GMT)

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