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By August 25, 2017 0 Comments

Splunk Rockets On Second-Quarter Sales, Earnings Beat

Shares of Splunk (SPLK) soared late Thursday after the Big Data services provider beat Wall Street’s estimates for its fiscal second quarter and guided sales higher for the current period.

Splunk shares jumped 9%, near 65.50, in after-hours trading on the stock market today. During the regular session Thursday, Splunk dipped a fraction to 60.28.

Splunk reported adjusted earnings per share of 8 cents, up 60% year over year, on revenue of $ 280 million, up 32%, in the quarter ended July 31. Analysts expected 6 cents and $ 268.5 million.

For the current quarter, Splunk expects revenue of $ 308 million, up 26%, based on the midpoint of its guidance. It did not give a target for earnings per share.

Wall Street was modeling Splunk to earn 15 cents a share, up 25%, on sales of $ 306.9 million, also up 25%, for the company’s fiscal third quarter.

IBD’S TAKE: Splunk has an IBD Composite Rating of 76, meaning it has outperformed 76% of stocks in key metrics over the past 12 months. For more information, visit the IBD Stock Checkup.

Splunk’s software helps tech managers monitor and analyze the vast volumes of data that companies and other enterprises are fast accumulating in the digital age — a field called Big Data. Splunk software uses the data to provide businesses with operational intelligence for security and information technology.

“I am pleased with the solid sales execution in Q2, particularly our results in EMEA (Europe, Middle East and Africa),” Splunk Chief Executive Doug Merritt said in a news release. “As I traveled across Europe, Asia and North America over the last two months, I was excited to see businesses, governments and universities adopting Splunk across multiple departments and use cases.”

For the full fiscal year ending Jan. 31, Splunk expects sales of $ 1.21 billion to $ 1.215 billion, up from its prior guidance for $ 1.195 billion. Wall Street was targeting $ 1.2 billion.

News – Investor’s Business Daily

Posted in: Small Business

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