Splunk Third-Quarter Results Soundly Beats Estimates

Splunk (SPLK) reported third-quarter results late Wednesday that showed a big beat on earnings and revenue estimates. SPLK stock jumped.

X

The data analytics company reported adjusted earnings of 83 cents a share on revenue of $930 million. Analysts expected Splunk to report adjusted earnings of 25 cents a share on revenue of $847 million.

SPLK stock surged 6.5% to 82.75, during after-hours trading on the stock market today.

For the year, Splunk expects revenue between $1.055 billion and $1.085 billion. The midpoint of $1.07 billion is slightly above estimates of  $1.067 billion.

Using data analytics, Splunk helps businesses achieve valuable insights in many areas. This includes in-depth customer research, product development, cost management and competitive analysis.

“We delivered another solid quarter, with total revenues up 40% year over year,” said Chief Executive Gary Steele, in a statement with the Splunk earnings release.

“We remain focused on balancing long-term, durable growth with profitability,” continued Steele. “In addition to our strong top-line results, we also made good progress on our expense reduction during the quarter.”

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

YOU MAY ALSO LIKE:

As Elon Musk Goes Ballistic On Twitter, Tesla Brand Gets Burned

MarketSmith: Research, Charts, Data And Coaching All In One Place

Find Stocks Setting Up During The Market Correction

Stocks To Watch: Top-Rated IPOs, Big Caps And Growth Stocks