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Splunk lifts annual guidance after Q3 results top estimates; Shares surge

AuthorYasin Ebrahim
Published 30/11/2022, 23:00
© Reuters.
SPLK
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By Yasin Ebrahim 

Investing.com -- Splunk on Wednesday lifted its full-year outlook on strong cloud revenue after reporting third-quarter results that topped Wall Street estimates as efforts to cut costs and ongoing cloud demand bolstered performance.  

Splunk (NASDAQ:SPLK) gained more than 6% in afterhours trading following the report.

The company reported adjusted EPS of $0.83 on revenue of $930 million, topping estimates of $0.25 on revenue of $847.7M.

Cloud revenue grew 54% to $374M year-over-year.

For the fourth quarter, the company guided revenues in a range of $1.055 billion and $1.085B, compared with estimates for $1.07B.

Full-year revenues are now expected to be between $3.455B and $3.485B, up from a prior estimate of between $3.35B and $3.4B. 

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