CommVault 3Q earnings up 40 percent on higher revenue

CommVault 3Q earnings up 40 pct on higher revenue

OCEANPORT, N.J. — CommVault Systems Inc., a maker of data management software, said Wednesday that third-quarter earnings rose by 40 percent as a result of higher revenue.

The company earned $5.4 million, or 12 cents per share, compared with $3.9 million, or 9 cents per share, in the same quarter a year earlier.

Excluding one-time items such as stock-based compensation charges, CommVault earned 19 cents per share in the quarter.

Total revenue rose by 18 percent to $70.7 million from $60 million. Revenue from sales of software rose by 12 percent year-over-year to $35.2 million while those for services went up by 24 percent to $35.5 million.

CommVault’s earnings beat analysts’ average forecast by a penny while revenue exceeded their estimates as well, according to Thomson Reuters.

Shares of CommVault, based in Oceanport, N.J., rose 54 cents, or 2.5 percent, to $22.39.