Splunk, Autodesk, Veeva see strong demand in their fiscal Q2s

The software and cloud providers delivered strong quarterly results and upped their outlooks.

Splunk topped expectations for its fiscal second quarter and raised its revenue outlook as it added 550 new customers in the last three months.

The company, which specializes in software that analyzes machine data, reported a second quarter net loss of 71 cents a share on revenue of $388.3 million, up 39 percent from a year ago. Non-GAAP earnings for the quarter were 8 cents a share.

Wall Street was looking for a non-GAAP profit of 5 cents a share on revenue of $358.5 million.

Splunk said fiscal third quarter revenue will be between $430 million and $432 million. For fiscal 2019, Splunk projected total revenue of about $1.685 billion.

That outlook was better than expected too.

Autodesk reported a non-GAAP profit as its transition to subscriptions is paying off ahead of schedule.

The company reported a second quarter net loss of 18 cents a share on revenue of $612 million, up 22 percent from a year ago. The non-GAAP profit for Autodesk was 19 cents a share.

Wall Street was looking for non-GAAP earnings of 15 cents a share on revenue of $600 million.

Autodesk said it added 119,000 total subscriptions in the second quarter to end with 3.94 million.

For the third quarter, Autodesk projected revenue between $635 million and $645 million with non-GAAP earnings between 24 cents a share to 28 cents a share. For fiscal 2019, Autodesk said revenue will be between $2.485 billion and $2.5 billion with non-GAAP earnings between 87 cents a share and 95 cents a share.

Veeva Systems, a cloud service provider for life sciences, reported a second quarter profit of $50.3 million, or 32 cents a share, on revenue of $209.6 million, up 25 percent from a year ago. Non-GAAP earnings were 39 cents a share.

Wall Street was expecting Veeva to report non-GAAP second quarter earnings of 34 cents a share on revenue of $203.47 million.

As for the outlook, Veeva said its third quarter revenue will be between $215 million and $216 million with non-GAAP earnings of 38 cents a share. For fiscal 2019, Veeva sees revenue between $840 million and $843 million with non-GAAP earnings between $1.47 a share and $1.48 a share.