© Reuters. Splunk reports worse-than-expected third-quarter earnings per share, but revenue beat estimates
Splunk (NASDAQ reported its third-quarter results, with EPS of $0.55, worse than the consensus estimate of $1.15. Meanwhile, revenue grew 14.8% year over year to $1.07 billion dollars, surpassing the consensus estimate of $1.03 billion.
The company’s total ARR reached $4 billion, an increase of 15% year over year. Cloud segment ARR grew 26% year-over-year to $2 billion and now accounts for the majority of total ARR.
“Splunk delivered a strong third quarter and marked several milestones in our journey to deliver exceptional value to customers and shareholders, including our agreement to join forces with Cisco (NASDAQ:),” said CEO Gary Steele.
According to Steele, the quarterly results reflect the company’s commitment to innovation, customer focus and consistent execution, and he noted that he is confident they are well positioned for the future.
