Rubber (ESTC) reported its quarterly results late Thursday and beat Wall Street estimates on the top and bottom lines, but the company delivered a revenue forecast that fell short of expectations. The rubber stock has collapsed.
The company reported an adjusted loss of 15 cents a share on revenue of $250.1 million. Analysts had expected Elastic to post a loss of 17 cents a share on revenue of $246.3 million, according to FactSet.
In after-hours trading on the stock market today, the stock fell 5.2% to 80.60. The results were in for the first quarter of the fiscal year.
For the second quarter, Rubber expects a net loss of 25 cents to 31 cents a share. Analysts had predicted a loss of 9 cents a share. The company expects revenue in the range of $260 million to $262 million, the midpoint of which is in line with expectations.
Elastic said that its search technology derives a large amount of data and insights from its diverse set of applications and the cloud-based software-as-a-service business model it uses.
Please follow Brian Diego on Twitter @IBD_BDeagon For more tech stocks, analysis and financial markets.
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