Splunk Raises Guidance Again Amid Strong Revenue Growth
November 29 2016 - 5:30PM
Dow Jones News
Splunk Inc. again boosted its outlook for the year as the
big-data software company continued to generate strong top-line
growth in the latest quarter, though its loss also widened amid
higher operating expenses.
Shares, down 2.4% for the year, rose 6.3% after hours to
$61.
For the year ending in January, the company now expects revenue
of $930 million and $932 million, up from its August estimate for
$910 million to $914 million.
And for the current quarter, the company guided for revenue
between $286 million and $288 million, more than the $285.1 million
average analyst estimate, according to Thomson Reuters.
Splunk's technology analyzes data from websites, applications,
servers and mobile devices. The company's recent products include
the Splunk APP for AWS 4.2 for management of multiple Amazon Web
Services accounts. The company has been active in cybersecurity
technology.
The company said it signed nearly 500 new enterprise customers
during its latest quarter.
In all for the October period, Splunk posted a loss of $93.5
million, or 69 cents a share, compared with a loss of $73 million,
or 57 cents a share, a year earlier.
Earnings excluding items were 12 cents a share, topping analyst
predictions for 8 cents a share, according to Thomson Reuters.
Revenue surged 40% to $244.8 million, above the company's
guidance of $228 million to $230 million. License revenue ticked up
34% to $139.7 million while maintenance and services revenue grew
50% to $105.1 million.
Operating expenses also increased during the quarter, jumping
33% to $287.1 million.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
November 29, 2016 17:15 ET (22:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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