Splunk’s stock surges on strong quarterly revenue, guidance


Shares of Splunk Inc. jumped 12% in extended trading Wednesday after the software company reported quarterly results that topped analysts’ revenue and earnings estimates.

Splunk SPLK, +1.80% reported a fiscal second-quarter net loss of $63.2 million, or 38 cents a share, compared with a net loss of $209.7 million, or $1.30 a share, in the year-ago quarter. Adjusted earnings were 71 cents a share.

Revenue increased 14% to $910.6 million from $798.7 million a year ago.

“Through our ongoing focus on accelerating innovation and harnessing AI, we unveiled many important advancements during the quarter to help customers strengthen their overall digital resilience and security posture,” Splunk Chief Executive Gary Steele said in a statement announcing the results.

Analysts surveyed by FactSet had expected, on average, net earnings of 46 cents a share on revenue of $889 million.

Splunk offered third-quarter revenue guidance of between $1.02 billion and $1.035 billion, topping FactSet analysts’ estimates of $982 million.

Splunk’s stock has gained 16% this year, while the broader S&P 500 index SPX has increased 15%.

This article was originally published by Marketwatch.com. Read the original article here.

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