Splunk reports worse than expected Q3 EPS, but revenues beat estimates

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Splunk reports worse than expected Q3 EPS, but revenues beat estimates
Credit: © Reuters.

Splunk (NASDAQ: SPLK ) reported its Q3 results, with EPS of $0.55 coming in worse than the consensus estimate of $1.15. Meanwhile, revenues grew 14.8% year-over-year to $1.07 billion, beating the consensus estimate of $1.03B.

The company's total ARR reached $4.0B, a 15% rise year-over-year. The Cloud segment ARR grew 26% year-over-year to $2.0B, and now represents the majority of total ARR.

"Splunk delivered a solid third quarter and marked several milestones in our journey to deliver exceptional customer and shareholder value, including our agreement to join forces with Cisco (NASDAQ: CSCO ),” said CEO Gary Steele.

According to Steele, the quarterly results reflect the company’s commitment to innovation, focus on customers, and consistent execution, noting that he is confident they are well-positioned for the future.

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