CVLT - Commvault trades higher following FQ2 beat

Commvault (CVLT) up 5% after fiscal Q2 results beat top and bottom line estimates.Q2 highlights: Revenue was up 2% y/y to $171.1M.Software and products revenue up 5% y/y to $72.3M; recurring revenue was up 6% to $129.1M, and service revenue was flat at $98.8M.ARR rose 9% to $483.5M at the end of the period.Non-GAAP EBIT was $28.9M in the quarter compared to $24.8M in the prior year.Previously: CommVault Systems EPS beats by $0.10, beats on revenue (Oct. 27)Latest article: Commvault - Risk/Reward Favorable With Multiple Growth Drivers (Oct. 17)

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Commvault trades higher following FQ2 beat