Splunk Shares Surge As Q3 Earnings Breezes Past Expectations

  • Splunk Inc SPLK reported third-quarter revenue growth of 40% year-on-year to $930 million, beating the consensus of $847 million.
  • Cloud revenue grew 54% to $374 million Y/Y. Customers with a total ARR greater than $1 million grew 19% to 754 Y/Y.
  • The non-GAAP gross margin expanded by 540 bps to 82%.
  • The non-GAAP operating margin improved from $(9.9)% a year ago to a positive 21.3%.
  • Non-GAAP EPS of $0.83 beat the consensus of $0.25.
  • Splunk sees Q4 revenue of $1.055 billion - $1.085 billion (vs. consensus of $1.060 billion).
  • Splunk raised FY23 revenue guidance to $3.455 billion - $3.485 billion, up from $3.35 billion - $3.40 billion (vs. consensus of $3.400 billion).
  • Price Action: SPLK shares traded higher by 8.34% at $84.16 in the premarket on the last check Thursday.
  • Photo Via Wikimedia Commons
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