Categories Earnings, Technology

Splunk (SPLK) surpasses Q3 2020 estimates; lifts FY20 revenue guidance

Splunk Inc. (NASDAQ: SPLK) third-quarter 2020 earnings and revenue exceeded the market’s estimates. The company posted an adjusted EPS of $0.58 on revenue of $626 million. Analysts had expected the data analytics firm to report earnings of $0.54 per share on revenue of $604.12 million for the recently ended quarter. Splunk stock, which ended flat today, rose about 6% during the after-market session.

On a GAAP basis, Splunk reported a loss of $0.38 per share, unchanged from the prior-year quarter. The year-over-year revenue growth of 30% in the three months ended October 31, 2019 period was helped by the 40% increase in the software revenues.

For the fourth quarter of 2020, Splunk expects revenue to be approximately $780 million and non-GAAP operating margin to be approximately 23%.

For the full year 2020, the company lifted its revenue expectation to $2.35 billion, from the prior projection of $2.30 billion. Guidance on the non-GAAP operating margin was kept unchanged at approximately 14%.

The San Francisco-based firm signed 440 new enterprise customers during the third quarter. Splunk completed the acquisition of SignalFx and announced the acquisition of Omnition in the just-concluded quarter.

“With the shift to a renewable model largely complete, momentum in our term license and cloud offerings drove 53% growth in total ARR during the quarter,” said CFO Jason Child.

Shares of Splunk have advanced 21% so far this year and 37% from this time last year.

We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Key highlights from Box (BOX) Q4 2021 earnings results

Box Inc. (NYSE: BOX) reported fourth quarter 2021 earnings results today. Revenues rose 8% year-over-year to $198.9 million. GAAP net loss was $4.9 million, or $0.03 per share, compared to

Infographic: Highlights of Hewlett Packard’s (HPE) Q1 2021 earnings report

Technology firm Hewlett Packard Enterprise Company (NYSE: HPE) reported higher earnings for the first quarter of 2021, despite a decrease in revenues. The numbers surpassed the consensus forecast. First-quarter earnings,

MercadoLibre (MELI): Here is a stock to have on your investment radar

MercadoLibre Inc. (NASDAQ: MELI) is one of the stocks that benefited from the COVID-19 pandemic. The Argentine ecommerce company has caught the attention of market experts as it garnered growth

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top