Splunk delivered solid second quarter earnings results and raised its outlook for the fiscal year. Autodesk and Brocade also reported.
The machine-data company reported a Q2 operating loss of $87 million, or 65 cents a share. The non-GAAP earnings were 5 cents a share on revenue of $12.8 million, up 43 percent from a year ago.
Wall Street was looking for earnings of 3 cents a share on revenue of $201 million.
Splunk CEO Doug Merritt said he was pleased with the company's momentum in each of its core markets. In the second quarter, the company says it added 500 new enterprise customers, and expanded relationships with the likes of Texas Roadhouse, Uber and Yelp.
In terms of guidance, Splunk expects third quarter revenue of $228 million and $230 million. For fiscal 2017, Splunk now expects revenue between $910 million and $914 million, up from its previous range of $892 million and $896 million.
Autodesk also posted better-than-expected results for its second quarter. The design software maker reported a net loss of $266 million, or 44 cents per share.
Non-GAAP earnings were 5 cents per share on revenue of $551 million, down 10 percent from the year-ago period.
Wall Street was bracing for a loss of 13 cents per share with $512 million in revenue.
Like most legacy tech providers, Autodesk has been working to transition to a subscription-based business model, which has caused more than a few rocky quarters. But the Bay Area-based company says it's finally seeing positive results from the switch.
"We posted terrific second quarter results driven by growth in new model subscriptions, the end of perpetual license sales, and diligent cost control," said Carl Bass, Autodesk president and CEO.
For the outlook, Autodesk expects third quarter revenue between $470 million and $485 million. Analysts are expecting at least $468 million. Its shares were up nearly 4 percent in late trading.
As for Brocade, the networking solutions provider reported a Q3 net income of $10 million, or 2 cents per share.
Non-GAAP earnings were 21 cents per share on a revenue of $591 million, up 7 percent year-over-year.
Wall Street was looking for earnings of at least 16 cents per share with $573.4 million in revenue.
Lloyd Carney, Brocade's CEO, praised the company's results in light of the "mixed macro environment" throughout the quarter. Carney said Brocade completed its acquisition of Ruckus Wireless, which will bolster Brocade's efforts to become a pure-play networking company.
For Brocade's Q4, Wall Street is looking for earnings of 23 cents a share on revenue of $642 million.