"You're a funny guy"- Ray Liotta, Goodfellas
When a company reports results that surprise you, all you can do is swallow them and move on. Reality in this business is you are going to be right and actually wrong, wrong and luckily proven right, just plain wrong, and from time to time spot on. But sometimes a company will report exactly what you expected, and the stock will still surprise you. Commvault (CVLT) on Tuesday did precisely that. After reading the report and listening to the call, I fully expected the stock to be down 10%. At best maybe down 5%. Instead it finished up 10%.
How does that happen?
Let's take a look at the numbers.