Splunk Beats Top And Bottomline Estimates For Q3: The Details
Portfolio Pulse from Ryan Gustafson
Splunk Inc. (NASDAQ:SPLK) reported Q3 earnings of 55 cents per share, surpassing estimates by 42 cents and showing a significant improvement over the previous year's loss of 20 cents per share. Revenue was $1.07 billion, beating expectations by $40 million and marking a 14.80% increase year-over-year. Total ARR reached $4.0 billion, up 15%, with cloud revenue growing 26% to $469 million. The company highlighted its agreement with Cisco and strong cloud business momentum. After the earnings release, SPLK shares remained flat in after-hours trading.
November 28, 2023 | 10:08 pm
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Splunk Inc. reported strong Q3 results with earnings and revenue exceeding estimates, significant year-over-year growth, and a notable increase in cloud revenue. The company's shares remained flat after the announcement.
Splunk's positive earnings report, with substantial beats on both top and bottom lines and strong cloud revenue growth, typically would lead to a positive short-term impact on the stock price. However, the shares remaining flat after-hours suggests a cautious market reaction, possibly due to broader market conditions or forward-looking concerns not detailed in the article. The score reflects the positive earnings impact, but the flat after-hours trading tempers the expected stock movement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100