Splunk had a classic 'beat and raise' quarter and Wall Street is cheering (SPLK)

pulse

November 17, 2017 12:06 AM

Data analytics software maker Splunk's third-quarter revenue grew 34% year-over-year and its guidance topped analyst expectations.

Splunk's revenue and adjusted earnings per share in its fiscal third quarter topped Wall Street expectations
The company's guidance was also better than expected
Splunk's stock surged past its 52-week high in after-hours trading

Shares of Splunk jumped as much as 12% in after-hours trading Thursday after the data analytics software maker's fiscal third-quarter results topped Wall Street's targets and the company gave a better-than-expected business forecast.

The company said it signed more than 450 new enterprise customers during the three months ending October 31, as it expanded its partnership with Dell EMC and released a string of new products. Splunk's third-quarter revenue grew 34% from the same period a year earlier.

Thursday's "beat-and-raise" earnings announcement boosted Splunk's shares 12% to $77.77 in after-hours trading, pushing the stock well above its 52-week high of $71.46.

Here are the key numbers from Splunk's fiscal third quarter:

Revenue: $328.7 million, up 34% year-on-year, and above the average analyst expectation of $309.2 million.

Earnings per share (adjusted): $0.17, versus analyst expectation of $0.14.

Fourth-quarter revenue outlook: $388 million to $390 million; analysts had forecast $383.6 million.

Fiscal 2019 annual revenue: $1.55 billion, versus $1.52 billion average analyst expectation.

The company continued to lose money in the third quarter, but it reduced the bleeding to a net loss of $50.6 million, compared to a net loss of $93.5 million in the year-ago period.

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