Splunk reported second-quarter results late Wednesday that beat estimates on the top and bottom lines as did its revenue outlook. But Splunk stock dropped.
The data analytics company reported adjusted earnings of 9 cents per share on revenue of $799 million. Analysts expected Splunk to report a loss of 36 cents a share on revenue of $749 million.
Results were for its fiscal second quarter. For its fiscal third quarter, Splunk said it expects revenue in the range of $835 million to $855 million. The midpoint of $845 million is above estimates of $836 million.
However, Splunk stock fell 10.4% to 98.91 during after-hours trading on the stock market today. It was not immediately clear what prompted the stock drop.
"In the face of some headwinds, we had solid execution in Q2, including $346 million in cloud revenue, a 59% increase over last year," Chief Financial Officer Jason Child said in written remarks with the earnings release.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
