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Shares of Commvault Systems (NASDAQ: CVLT) were down 20% as of 1:45 p.m. EDT on Tuesday after the company delivered disappointing fiscal second-quarter results. Analysts expected it to report $184.8 million in revenue, but actual revenue only reached $177.8 million.
Commvault also missed on earnings, where adjusted earnings per share came in at $0.48, much lower than the consensus estimate of $0.57.