Splunk Stock Rises After-Hours Following Q2 Earnings, Q3 and FY24 Guidance Above Estimates
Portfolio Pulse from Ryan Gustafson
Splunk Inc. reported better-than-expected Q2 results and issued Q3 and FY24 revenue guidance above estimates. Q2 earnings were 71 cents per share, beating the estimate of 45 cents. Q2 sales were $910.59 million, a 14% YoY increase, beating the estimate of $885.97 million. Q3 revenue guidance is between $1.02 billion and $1.035 billion, and FY24 revenue is estimated to be between $3.925 billion and $3.95 billion. Other gains include a 16% YoY increase in total ARR and a 29% growth in cloud revenue to $445 million.
August 23, 2023 | 8:42 pm
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POSITIVE IMPACT
Splunk's better-than-expected Q2 results and higher Q3 and FY24 guidance may positively impact its stock price in the short term.
Splunk's Q2 earnings and sales beat estimates, and the company issued higher-than-expected Q3 and FY24 revenue guidance. This positive financial performance and optimistic outlook could increase investor confidence and drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100