Splunk shares surge on strong Q3 results
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.