Splunk Makes Splash With Strong Results
NEW YORK (TheStreet) -- Big data specialist Splunk(SPLK) cruised past Wall Street's expectations for its second-quarter results on Thursday and raised its full-year revenue guidance, much to the delight of investors.
The San Francisco-based company brought in revenue of $44.5 million, a 71% hike from the same period last year and comfortably above the average analysts' forecast of $39.8 million. Excluding items, Splunk registered a loss of a penny a share, better than the consensus estimate for a 4-cent per share loss.
"The momentum that we realized in our first quarter of fiscal 2013 has continued into our second quarter," said Splunk CEO Godfrey Sullivan. "We added nearly 400 new customers and are equally excited about the expanded use of Splunk in our customer base."
Splunk, which went public earlier this year, also offered robust guidance, projecting third-quarter revenue between $45 million and $47 million. Analysts surveyed by Thomson Reuters are currently looking for revenue of $44.66 million.
The company also hiked its full-year revenue guidance to between $183 million and $186 million, compared to a prior range of $174 million to $177 million. Splunk now expects its non-GAAP operating margin to be between negative 2% and negative 3% compared to its prior estimate of negative 4% to negative 5%.
Wall Street expects full-year revenue of $178.28 million.