Splunk (NASDAQ:SPLK) stock was flying high on Friday following the release of its earnings report for its fiscal second quarter of 2019.

During its fiscal second quarter of 2019, Splunk reported earnings per share of 8 cents. This is down from the company’s earnings per share of 11 cents from the same period of the year prior. However, it was great news for Splunk stock by coming in above Wall Street’s earnings per share estimate of 5 cents for the period.

Splunk’s earnings report for its fiscal second quarter of 2019 also includes a net loss of $103.49 million. This is a wider net loss that the $78.59 million that was reported in its fiscal second quarter of 2018.

Operating loss reported by Splunk for its fiscal second quarter of 2019 came in at $103.86 million. The company’s operating loss reported during the same time last year was $77.20 million.

Splunk also reported revenue of $388.30 million during its fiscal second quarter of 2019. This is better than its revenue of $280.22 million that was reported in its fiscal second quarter of the previous year. It was also a boon to Splunk stock by beating out analysts’ revenue estimate of $358 million for the quarter.

Splunk’s most recent earnings report also includes an update for its fiscal 2019 guidance. It is now expecting revenue for the fiscal year to come in around $1.685 billion. It’s previous guidance was for revenue of approximately $1.645 billion. Wall Street is looking for revenue of $1.65 billion in fiscal 2019.

SPLK stock was up 16% as of noon Friday.

As of this writing, William White did not hold a position in any of the aforementioned securities.