Splunk Inc. (SPLK) stock gained a very modest 2.06% in the after-hours, at $114.00 against its close at $111.70 on December 01. In the previous trading session, the stock went down by 7.69%, losing $9.30 at a volume of 3.91 million shares. While the stock fell during regular trading, a slight gain was seen after the company posted its Q3 earnings. The company came out with better than expected earnings in the third quarter of fiscal 2022. The fundamentals still did not impress the investors much, as the stock gained a mere $2.30 after the announcement.
Splunk Inc. (SPLK) is a provider of software and cloud solutions with a market capitalization of $19.55 billion. Currently, SPLK has 161.55 million outstanding shares.
SPLK’s Earnings Report
On December 01, Splunk Inc. (SPLK) announced financial results for its third quarter of 2022, which ended on October 31, 2021. As per the third quarter, the company’s Total ARR was $2.83 billion, showing an increase of 37% year-over-year.
Moreover, the total revenues for the third quarter of 2022, were $665 million, compared to $558.5 million in the year-ago period. The revenues beat the estimates for the quarter by 1.65%.
Further, the net loss for the third quarter of 2022, was $343.3 million, compared to $201.5 million in the Q3 fiscal 2021. Consequently, the adjusted net loss per basic and diluted share was $0.37 for the third quarter of fiscal 2022. Hence, SPLK beat the consensus estimate of $0.53 loss per share as well.
As per the company, it was SPLK’s first billion-dollar Cloud ARR quarter, marking a big milestone in the company’s history.
Recent Developments
Previously, the company announced a commitment to achieve net-zero greenhouse gas emissions by 2050, on November 17, 2021. SPLK also declared its support for the TCFD (Task Force on Climate-related Financial Disclosures) as well as SBTi’s Business Ambition for the 1.5o Campaign.
Earlier this year, SPLK disclosed its environmental impact through CPD, which runs environmental disclosure platform. The company is committed to doing its part in decreasing Climate change and its impact on our world.
SPLK’s Future Outlook
Splunk Inc. provided its guidance for the upcoming fourth quarter of 2022 as well as the full fiscal year 2022. SPLK expects total revenue between $740 million and $790 million for the fourth quarter of fiscal 2022. Moreover, for the full fiscal year 2022, the expected revenue is in the range of $2.51 billion and $2.56 billion.
