Splunk reported solid second quarter financial results Thursday bolstered by a 32 percent uptick in billings.
The machine data software provider reported a second quarter net loss of $83,500, or 60 cents per share.
Splunk's non-GAAP earnings were 8 cents per share on revenue of $280 million, up 32 percent year over year.
Wall Street was expecting earnings of 6 cents per share on a revenue of $268.5 million.
In terms of outlook, analysts are looking for Q3 earnings of 15 cents a share on revenue of $306.7 million. Splunk responded with revenue expectations between $307 million and $309 million. Splunk upped its guidance for billings from $1.425 billion to $1.450 billion.
Splunk also lifted its revenue outlook for the fiscal year to a range of $1.210 billion to $1.215 billion, up from a previous outlook of $1.195 billion.
Autodesk also posted better-than-expected results for its second quarter. The design software maker reported a net loss of $144 million, or 66 cents per share.
Non-GAAP losses were 11 cents per share on revenue of $502 million, down 9 percent from the year-ago period. Wall Street was bracing for a loss of 15 cents per share with $494.9 million in revenue.
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.
"During the second quarter we started offering a simple path for maintenance customers to move to subscription," said Autodesk CEO Andrew Anagnost. "While the program didn't begin until midway through the quarter, it is off to a great start with nearly one-in-four renewal opportunities moving to subscription."
For the outlook, Autodesk expects third quarter revenue between $505 million and $515 million, which falls just below analysts expectations for at least $516 million.
Non-GAAP earnings were 16 cents per share on revenue of $549 million, down 7 percent year over year. Analysts were looking for earnings of 17 cents a share on revenue of $586.8 million.
Brocade did not provide fiscal Q4 2017 guidance and nixed its usual earnings conference call because of the pending Broadcom acquisition.