NAV - Splunk FQ2 beats offset by softer sales forecasts

Splunk (NASDAQ:SPLK) shares are down slightly after hours following fiscal second-quarter earnings that topped Wall Street estimates for the quarter but came in softer with the revenue forecasts. Revenue was up 23% compared to the same period last year to $605.7 million, topping analyst estimates by $42.4 million. Adjusted loss per share of $0.62 was seven cents better than analysts expected. Annual recurring revenue was $2.63 billion, above the $2.61 billion consensus. Cloud ARR was up 72% year-over-year to $217 million. “We outperformed in the first half of the year and are well-positioned heading into the second half. We expect $1.3 billion of Cloud ARR and Total ARR of well over $3 billion by fiscal year end as we help our customers accelerate their digital transformations,” says Chief Financial Officer Jason Child. For the third quarter, the company forecasts revenue of $625 million to $650 million, in-line with the $637.7

For further details see:

Splunk FQ2 beats offset by softer sales forecasts