Why Commvault Systems Stock Is Plummeting Today
Shares of data protection and recovery specialist Commvault Systems (NASDAQ: CVLT) are down 17% as of 11 a.m. ET on Tuesday, according to data provided by S&P Global Market Intelligence.
The cybersecurity company reported second-quarter earnings this morning and saw revenue grow by 18%, which exceeded analysts' expectations. However, Commvault's earnings came up shy of what Wall Street was hoping for, so the stock sold off today.
Looking at things from a longer-term Foolish perspective, the stock may have slightly missed on 90 days' worth of expected profits, but Commvault's actual operations only grew more robust during the quarter.
Source Fool.com
