Splunk Earnings: SPLK Stock Heading 6% Higher on Q3 Beat

Splunk (NASDAQ:SPLK) earnings for the data analysis company’s fiscal third quarter of 2020 have SPLK stock heading higher in after-hours trading on Thursday. This comes after reporting adjusted per-share earnings of 58 cents on revenue of $626.34 million. These are both better than Wall Street’s estimates of 54 cents per share and $604.12 million for the period.

Splunk Earnings: SPLK Stock Heading 6% Higher on Q3 Beat

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Here are some additional highlights from the current Splunk earnings report.

  • Adjusted EPS is up 52.63% from the 38 cents reported during the same time last year.
  • Revenue comes in 29.60% higher YoY compared to $480.98 million.
  • The Splunk earnings report also includes an operating loss of -$47.49 million.
  • This is a 5.04% narrower operating loss than the -$50.01 million reported in the fiscal third quarter of 2019.
  • Net loss for the quarter is sitting at -$57.64 million.
  • That’s 3.46% wider than the company’s net loss of -$55.71 million in the same period of the year prior.

Doug Merritt, President and CEO of Splunk, says this about the most recent SPLK stock results.

“Splunk continues to show the world how our Data-to-Everything Platform is uniquely positioned to bring data to every question, decision and action. Whether through our groundbreaking innovations like Splunk® Data Fabric Search and Splunk® Data Stream Processor or aggressive acquisition strategy, Splunk is transforming the way our customers around the world turn data into doing.”

SPLK stock is up 6.43% after markets closed on Thursday. The stock closed out the day without much change. It’s currently up 22.74% year-to-date.

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

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/splunk-earnings-send-splk-stock-up/.

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