Splunk Inc. SPLK shares were flat in Tuesday's after-hours session following the release of the company's third-quarter financial results.
Here's a summary of the details.
What To Know: Splunk reported quarterly earnings of 55 cents per share, beating estimates by 42 cents, a 375% increase over losses of 20 cents per share from the same period last year.
Revenue clocked in at $1.07 billion, surpassing expectations by $40 million. The figure marked a 14.80% increase over sales of $929.77 million from the same period last year.
Total ARR was $4.0 billion, an increase of 15% compared to the same quarter last year.
Also, the company reported that cloud revenue increased 26% in the third-quarter to $469 million.
"Splunk delivered a solid third quarter and marked several milestones in our journey to deliver exceptional customer and shareholder value, including our agreement to join forces with Cisco," said Gary Steele, president and CEO of Splunk.
"Organizations are continuing to unlock value with Splunk, and in Q3 we saw solid momentum in our cloud business as Cloud ARR grew 26% year-over-year and now represents the majority of Total ARR. Our results demonstrate our accelerated innovation, relentless customer focus and consistent execution, and I'm confident we are well-positioned for the future."
Related Link: Workday Q3 Results Exceed Estimates, Q4 Outlook Issued: Shares Trading Up After Hours
SPLK Price Action: Shares of SPLK were flat at $151.21 in the after-hours session at the time of publication, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
