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Nov. 21, 2019, 4:21 p.m. EST

Splunk stock rises more than 6% after earnings beat

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By Max A. Cherney

Splunk Inc. /zigman2/quotes/203060494/lastsale SPLK -4.02% stock rose more than 6% in the extended session Thursday, after the software company topped Wall Street expectations for earnings and sales. The software company reported a fiscal third-quarter net loss of $57.6 million, which amounts to 38 cents a share, versus losses of $55.7 million, or 38 cents a share in the year-ago period. Revenue rose to $626.3 million from $481 million a year ago. Adjusted for stock-based compensation, among other items, earnings amounted to 58 cents a share. Analysts surveyed by FactSet expected adjusted earnings of 54 cents a share on sales of $604.6 million. "With the shift to a renewable model largely complete, momentum in our term license and cloud offerings drove 53% growth in total [annual recurring revenue] during the quarter," Chief Financial Officer Jason Child said in a statement. For the fiscal fourth quarter, analysts expect earnings of $1.03 a share and sales of $770 million. Splunk said it predicts fiscal fourth-quarter revenue of $780 million. Splunk stock has gained 21% this year, as the S&P 500 index /zigman2/quotes/210599714/realtime SPX +2.28% rose 24%.

/zigman2/quotes/203060494/lastsale
US : U.S.: Nasdaq
$ 105.28
-4.41 -4.02%
Volume: 2.56M
April 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$17.40 billion
Rev. per Employee
$563,441
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/zigman2/quotes/210599714/realtime
US : S&P US
2,526.90
+56.40 +2.28%
Volume: 3.87B
April 2, 2020 5:11p
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