Splunk Stock Surges on Q3 Earnings, Revenue Beat

Advertisement

Splunk stock (NASDAQ:SPLK) was gaining late in the day Thursday as the company reported its latest quarterly earnings results after the bell, which came in ahead of what analysts were calling for.

Splunk StockThe San Francisco-based software producer said that for its third quarter of fiscal 2018, it amassed a net loss of $55.7 million, or 38 cents per share. Analysts were calling for the company to bring in a net loss of $56 million, or 35 cents per share, according to FactSet.

On an adjusted basis, Splunk brought in a profit of 38 cents per share, which is better than the 31 cents per share that the Wall Street consensus estimate called for, according to FactSet.  The data-analytics software provider also raked in revenue of $481 million for the period, which was stronger than the Wall Street outlook of $433 million, according to FactSet.

The company also announced that its Chief Financial officer Dave Conte will retire in March 2020. Plus, Spunk increased its fiscal 2018 revenue guidance as it now calls for sales of roughly $1.74 billion, ahead of its previous outlook of $1.685 billion.

For 2020, the company is calling for total revenue of roughly $2.15 billion, up from its previous forecast of $2 billion.

Splunk stock surged about 2.5% during regular trading hours on Thursday as the company geared up to report for its latest quarter of the fiscal year. SPLK shares gained an additional 3.8% after the bell following the company’s earnings report, which topped Wall Street’s expectations.


Article printed from InvestorPlace Media, https://investorplace.com/2018/11/splunk-stock-splk/.

©2024 InvestorPlace Media, LLC