Published on April 5th, 2017 | by itadmin

Splunk Outperforms Q4 Estimates – Shares Rise

Splick

Splunk Inc. (SPLK) recently posted their financial results for the fourth quarter of the 2017 fiscal year. The company that is based in San Francisco, California posted results that were better than analysts and the market expected, leading to their shares rising by more than 6 percent during after-hours trading.

Splunk, therefore, reported they incurred a net loss for the quarter of $57 million, equating to a loss of $0.47 per share. This is compared to the same quarter of the previous year, when the company generated $32.6 million in losses, equating to losses per share of $0.3. Quarterly non-GAAP earnings per share worked out at $0.09.

The company saw their revenues grow by 48 percent, from $99.9 million during the same quarter of the previous year, to $147.4 million during the latest quarter. Analysts, though, had expected the company to post $0.04 in earnings per share, compared to the $0.09 they did post, associated with revenues of $137.05 million.

Splunk’s revenues generated from licenses increased by 43 percent on a year over year basis, reaching $98.1 million during Q4 FY 2017. The company increased their enterprise customer base with 600 new clients during the quarter.

The Chief Executive Officer and Chairman of Splunk, Godfrey Sullivan, stated that the company had finished their 2017 fiscal year with solid performances in all segments and they achieved their best quarter so far for their Splunk App for Enterprise Security and Splunk Cloud. He further explained that the company’s investment in various solutions and the cloud had helped to increase global adoption among clients.

Splunk is expecting their first quarter to generate sales between $116 million and $118 million, compared to forecasts from analysts, who are expecting the company to post sales of $115.4 million. Splunk is also expecting to achieve sales of $600 million for the entire fiscal year, whereas analysts are forecasting overall sales of $580 million.

Splunk saw their stock rise by 6.08 percent, thus reaching $73.8 per share during after-hours trading. The company has been trading between $39.35 and $106.15 over the past 52 weeks. Splunk has a market cap of $8.15 billion.


About the Author



Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top ↑