Big-data firm Splunk’s stock surges on strong earnings
August 23, 2018 / MIKE WHEATLEY
Big-data company Splunk Inc.’s share price is spiking again after another successful quarter. The company today posted a fiscal second-quarter net loss of 71 cents per share on revenue of $388.3 million, up 39 percent from the same period a year ago. Earnings before certain costs such as stock compensation came in at 8 cents per share. Wall Street analysts had pegged Splunk’s earnings before certain costs at just 5 cents per share on revenue of $358.5 million. The better-than-expected performance had shareholders pumped, with Splunk’s share price rising 6.5 percent in after-hours trading. Splunk sells big-data analytics software that helps companies monitor and draw business insights from the vast amounts of data they accumulate. In recent times, the company has emerged as one of Wall Street’s darlings, consistently beating expectations in successive quarters.