Commvault's record revenues walloped by US tax law tweaks

Commvault has reported record quarterly revenues but took a dramatic GAAP thrashing due to US tax law changes. Revenues for the data manager's third fiscal 2018 quarter were $180.4m, up 8.8 per cent annually and 13 per cent sequentially. Net loss was $58.9m, but Commvault said it recorded approximately "$59.0m of non-cash …

[Anonymous Coward]

A lot of companies will be reporting this

Some companies like Apple kept deferred taxes on their books so they wouldn't have to take big hit on GAAP earnings, but many didn't because it allowed them to falsely inflate their reported profit and look better for analysts.