Elastic NV (NYSE:ESTC) shares are surging early on Friday after the company posted better-than-expected first-quarter fiscal 2027 results and boosted guidance.
• Elastic stock is challenging resistance. Why did ESTC hit a new high?
Adjusted EPS of 70 cents beat the consensus estimate of 58 cents. Sales rose 15% year over year to $478.113 million and exceeded the $469.745 million consensus. Sales-led subscription revenue rose 18% year over year to $399 million.
Constant-currency revenue growth accelerated to 15% from 14% in the fourth quarter.
The company saw notable customer growth, particularly among customers spending more than $100,000 annually, with 37% of these customers using Elastic for AI-related use cases.
