Splunk Surges 11% in Morning Trading

Tiger Newspress2022-12-01

Splunk gained more than 11% in morning trading following the report.

Splunk on Wednesday lifted its full-year outlook on strong cloud revenue after reporting third-quarter results that topped Wall Street estimates as efforts to cut costs and ongoing cloud demand bolstered performance.

The company reported adjusted EPS of $0.83 on revenue of $930 million, topping estimates of $0.25 on revenue of $847.7M.

Cloud revenue grew 54% to $374M year-over-year.

For the fourth quarter, the company guided revenues in a range of $1.055 billion and $1.085B, compared with estimates for $1.07B.

Full-year revenues are now expected to be between $3.455B and $3.485B, up from a prior estimate of between $3.35B and $3.4B.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment