Splunk Earnings: SPLK Stock Down Despite Q1 Earnings Beat

Splunk (NASDAQ:SPLK) unveiled its latest quarterly earnings figures late today, bringing in a profit that surpassed the loss that analysts projected the business would bring in, yet the company’s stock took a hit after hours on Thursday.

Splunk EarningsThe San Francisco, Calif.-based software producer announced that for its first quarter of its fiscal 2019, it raked in an adjusted profit of 2 cents per share, which is stronger than the Wall Street consensus estimate of a loss of 14 cents per share. The company added that its revenue tallied up to $425 million for the period, beating the $395.4 million that analysts projected.

Splunk’s revenue was up 36% when compared to its first quarter of the fiscal 2018, while its earnings of 2 cents per share topped the loss of 7 cents per share it amassed during the same period a year ago. For the second quarter of its fiscal 2019, the business said it forecasts revenue of $485 million, which is stronger than the Wall Street consensus estimate of $479.4 million.

For its fiscal 2019, the business increased its revenue guidance as it is now at $2.25 billion, higher than the $2.2 billion that Wall Street is calling for in its guidance.

SPLK stock is sliding roughly 2.2% after the bell Thursday following the company’s quarterly earnings results, which included earnings that topped what analysts called for. Shares had been falling about 5.4% during regular trading hours ahead of the company’s results.

Article printed from InvestorPlace Media, https://investorplace.com/2019/05/splunk-earnings-splk-stock/.

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