Elastic Soars Nearly 25% After Hours After AI-Search Firm Beats Fiscal Q2 Estimates

ESTC rose 23.8% to $116.50 shortly before 4:15 p.m. ET after the company reported $0.59 in non-GAAP earnings per share on $365.4 million of sales in the three months ended Oct. 31. That beat the $0.38 EPS and $355.9 million of sales that analysts had reportedly forecast.

"Elastic delivered a strong second quarter supported by solid sales execution, exceeding our guidance across all revenue and profitability metrics," CEO Ash Kulkarni said in releasing the results. "In Q2, we saw strong customer commitments with key wins across all our solution areas, with continued momentum in GenAI and platform consolidation. Our clear product differentiation, and our relentless pace of innovation is helping us become a natural choice for customers building GenAI applications."

The company also guided fiscal Q3 to $0.46-$0.48 in adjusted EPS on $367 million-$369 million of revenues.