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.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%
Comments
Comments are closed.