Splunk Earnings: SPLK Stock Down Despite Q1 Earnings Beat

Splunk (NASDAQ:) unveiled its latest quarterly earnings figures late today, bringing in a profit that surpassed the loss that analysts projected the business would bring in, yet the company’s stock took a hit after hours on Thursday.

The San Francisco, Calif.-based software producer announced that for its first quarter of its fiscal 2019, it raked in an adjusted profit of 2 cents per share, which is stronger than the Wall Street consensus estimate of a loss of 14 cents per share. The company added that its revenue tallied up to $425 million for the period, beating the $395.4 million that analysts projected.

Splunk’s revenue was up 36% when compared to its first quarter of the fiscal 2018, while its earnings of 2 cents per share topped the loss of 7 cents per share it amassed during the same period a year ago. For the second quarter of its fiscal 2019, the business said it forecasts revenue of $485 million, which is stronger than the Wall Street consensus estimate of $479.4 million.

For its fiscal 2019, the business increased its revenue guidance as it is now at $2.25 billion, higher than the $2.2 billion that Wall Street is calling for in its guidance.

SPLK stock is sliding roughly 2.2% after the bell Thursday following the company’s quarterly earnings results, which included earnings that topped what analysts called for. Shares had been falling about 5.4% during regular trading hours ahead of the company’s results.

The post appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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