Big Data — which involves analyzing huge amounts of information to help with things like sales strategies to security — is one of tech’s hottest trends. And one of the top players riding that trend is Splunk (NASDAQ:SPLK), which posted a standout earnings report for its second quarter late Thursday and was surging in after-hours trading.
Q2 revenues spiked by 71% to $44.5 million, and the company suffered and adjusted loss of 1 cent per share, with both figures beating Wall Street estimates of $39.8 million and 4 cents per share, respectively.
Splunk has been busy building new software, focused primarily on security — in fact, I recently pointed out Splunk on the IPO Playbook as a top security IPO to keep an eye on.
and recently launched the beta version of Splunk Enterprise 5.0. What’s more, it also has new applications to support major platforms from VMware (NYSE:VMW), Microsoft (NASDAQ:MSFT) and Palo Alto Networks (NYSE:PANW). Splunk also has software to help improve cloud environments.
With such a strong pipeline, it should be no surprise that Splunk thinks growth will continue to be strong. For the third quarter, SPLK is looking for revenues of $45 million to $47 million, above forecasts for $44.6 million.
Splunk’s stock was trading around $34 in after-hours trading, almost double its March IPO pricing of $17.
Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “All About Short Selling” and “All About Commodities.” Follow him on Twitter at @ttaulli. As of this writing, he did not own a position in any of the aforementioned securities.