Splunk (NASDAQ: SPLK) reported its third quarter financial results after the closing bell on Thursday. The Company topped analysts' earnings and revenue expectations, sending shares higher by 8% on Friday morning.
For the quarter, Splunk reported earnings of USD 0.58 per share on revenue of USD 626.3 Million. FactSet analysts projected earnings of USD 0.54 per share on revenue of USD 604.6 Million.
Splunk reported that total revenues grew by 30% year-over-year, primarily driven by its software segment. The Company’s software revenues totaled USD 454 Million, increasing by 40% year-over-year.
Licenses revenue totaled USD 373.68 Million, increasing from USD 279.60 Million the same period a year ago, while maintenance and services revenue reach USD 252.65 Million versus USD 201.38 Million.
At the end of the quarter, Splunk reported that it signed 440 new enterprise customers, including Airbus Defence and Space, Anaplan, Carnival Cruise, Chegg, Crowdstrike, Takeda Pharmaceuticals, the U.S. Census Bureau, and Xcel Energy.
“Splunk continues to show the world how our Data-to-Everything Platform is uniquely positioned to bring data to every question, decision and action,” said Doug Merritt, President and Chief Executive Officer, Splunk. “Whether through our groundbreaking innovations like Splunk® Data Fabric Search and Splunk® Data Stream Processor or aggressive acquisition strategy, Splunk is transforming the way our customers around the world turn data into doing.”
For the fourth quarter, Splunk is now expecting revenues to be approximately USD 780 Million. And as for the full year, the Company raised its revenue outlook from USD 2.3 Billion to USD 2.35 Billion.
Splunk shares are now up 29.04% this year.