UPDATE 1-CommVault Q2 profit beats Street view

* Q2 adj profit of 17 cents beats estimates by penny

* Q2 revenue up 5 pct

Oct 28 (Reuters) - Data management software provider CommVault Systems Inc (CVLT.O) posted a quarterly profit that narrowly beat Wall Street expectations, as higher services revenue more than offset a drop in software sales.

Second-quarter net income was almost flat at $4.7 million, or 11 cents per share. Excluding items, the company posted earnings of 17 cents a share.

Revenue rose 5 percent to $66.7 million.

The company, which makes software that allows corporations to back up, archive and search their data, saw a 5 percent fall in software revenue while services revenue jumped 18 percent from a year ago.

Analysts expected earnings of 16 cents a share, excluding exceptional items, on revenue of $62.7 million, according to Thomson Reuters I/B/E/S.

Shares of the Oceanport, New Jersey-based company, which have risen 71 percent in the last six months, closed at $20.32 Tuesday on Nasdaq. (Reporting by Shrutika Verma in Bangalore; Editing by Anil D'Silva)