CommVault 1Q results top Street's view, stock up

Shares of CommVault rose Tuesday after its first-quarter performance topped Wall Street and it revealed strong demand for data and information management software.

CommVault earned $10.1 million, or 21 cents per share, for the three months ended June 30. That's up 44 percent from $7 million, or 15 cents per share, a year earlier.

Earnings were 30 cents per share when removing stock-based compensation and other items.

Wall Street predicted 23 cents per share.

Revenue increased 22 percent to $111.3 million from $91.5 million on better software sales and higher services revenue.

Analysts polled by FactSet forecast $108.9 million.

CommVault said that it is still seeing strong demand for its Simpana 9 data and information management software and experienced more enterprise software deals valued at more than $100,000 during the quarter.

Shares of CommVault Systems Inc., based in Oceanport, N.J., climbed $4.76, or 10.5 percent, to $50.14 in midday trading. Over the past year, the shares have traded in a range of $30.97 to $55.49.