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Why Splunk (SPLK) Shares Are Trading Higher Today – Splunk (NASDAQ:SPLK) – Stocks to Watch
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Why Splunk (SPLK) Shares Are Trading Higher Today – Splunk (NASDAQ:SPLK)

ByAnusuya Lahiri

Dec 1, 2022
Why Splunk (SPLK) Shares Are Trading Higher Today - Splunk (NASDAQ:SPLK)

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  • Splunk Inc SPLK reported third-quarter revenue growth of 40% year-on-year to $930 million, beating the consensus of $847 million.

  • Cloud revenue grew 54% to $374 million Y/Y. Customers with a total ARR greater than $1 million grew 19% to 754 Y/Y.

  • The non-GAAP gross margin expanded by 540 bps to 82%.

  • The non-GAAP operating margin improved from $(9.9)% a year ago to a positive 21.3%.

  • Non-GAAP EPS of $0.83 beat the consensus of $0.25.

  • Splunk sees Q4 revenue of $1.055 billion – $1.085 billion (vs. consensus of $1.060 billion).

  • Splunk raised FY23 revenue guidance to $3.455 billion – $3.485 billion, up from $3.35 billion – $3.40 billion (vs. consensus of $3.400 billion).

  • Price Action: SPLK shares traded higher by 8.34% at $84.16 in the premarket on the last check Thursday.

  • Photo Via Wikimedia Commons

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Anusuya Lahiri

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