Commvault Raised FY24 Revenue Outlook To $812M-$822M (From $805M-$815M) Consensus $813.73M
Portfolio Pulse from Benzinga Newsdesk
Commvault has increased its FY24 revenue outlook to $812M-$822M, up from the previous $805M-$815M, with a consensus of $813.73M. The company expects a 14% YoY growth in total ARR, subscription revenue between $408M and $418M, a 50 to 100 basis points YoY growth in non-GAAP operating margin, and a free cash flow of approximately $170M.
October 31, 2023 | 11:50 am
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Commvault's raised FY24 revenue outlook and expected growth in total ARR, subscription revenue, and non-GAAP operating margin could potentially boost investor confidence and positively impact the company's stock price in the short term.
Commvault's raised revenue outlook for FY24 and expected growth in key financial metrics indicate a positive financial performance. This could potentially attract more investors, leading to an increase in demand for the company's stock and a rise in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100