Splunk Inc. SPLK shares are trading higher in the after-hours session after the company reported better-than-expected second-quarter financial results and issued third-quarter and full-year 2024 revenue guidance above estimates. Here's a summary of the details.
What To Know: The company reported quarterly earnings of 71 cents per share which beat the analyst consensus estimate of 45 cents. The company reported quarterly sales of $910.59 million which beat the analyst consensus estimate of $885.97 million, 14.00% increase over sales of $798.75 million the same period last year.
Splunk issued third-quarter revenue guidance in a range between $1.02 billion and $1.035 billion, versus the $981.34 million estimate. Full-year 2024 revenue is estimated to be between $3.925 billion and $3.95 billion, versus the $3.9 billion estimate.
The company also boasted several other gains, including total ARR up 16% year-over-year and cloud revenue growth of 29% to $445 million. Trailing twelve month operating cash flow was $827 million, up 247% year-over-year.
"Splunk delivered another solid quarter, demonstrating the incredible value organizations worldwide gain from unified security and observability," said Gary Steele, President and CEO of Splunk.
"Through our ongoing focus on accelerating innovation and harnessing AI, we unveiled many important advancements during the quarter to help customers strengthen their overall digital resilience and security posture. Our team's strong execution, operational discipline and deep customer engagement have again illustrated Splunk's leadership."
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SPLK Price Action: Shares of SPLK were up 9.62% at $109.54 at the time of publication, according to Benzinga Pro.
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