Splunk shares surge on strong Q3 results

Shares of Splunk were up more than 11 percent in after market trading.

Splunk handily topped third quarter earnings targets after the bell Thursday. The machine data software provider reported a quarterly net loss just $50,602, or 36 cents per share.

Splunk's non-GAAP earnings came to 17 cents per share on revenue of $328.7 million, up 34 percent from the same time last year.

Wall Street was expecting earnings of 14 cents per share on revenue of $309.2 million.

Elsewhere on the balance sheet, Splunk said total billings were $381.6 million, up 38 percent year-over-year. The company also landed more than 450 new enterprise customers in Q3.

In terms of outlook, analysts are looking for earnings of 32 a share on revenue of $383.6 million. Splunk responded with revenue expectations between$388 million and $390 million. Splunk upped its guidance for billings from $1.450 billion to $1.485 billion.

Splunk also lifted its revenue outlook for the fiscal year to $1.55 billion, up from a previous outlook of $1.195 billion, and above analyst expectations for $1.22 billion.

Shares of Splunk were up more than 11 percent in after market trading.

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