By Davit Kirakosyan
Splunk (NASDAQ:SPLK) shares fell nearly 10% after-hours despite a Q2 revenue beat and a better-than-expected outlook.
Q2 revenue grew 32% year-over-year to $799 million, compared to the consensus estimate of $748.97 million. EPS came in at ($1.30), compared to the consensus estimate of ($0.36).
Cloud revenue grew 59% year-over-year to $346 million. Cloud Dollar-Based Net Retention Rate was 129%. The company now has 723 customers with a total ARR greater than $1 million, representing a 24% year-over-year increase.
“Splunk is well-positioned to deliver long-term, durable growth and profitability as we help the world’s largest and most innovative enterprises improve their cybersecurity and business resilience. said Gary Steele, President and CEO of Splunk.
The company expects Q3/23 revenue in the range of $835 million-855 million, compared to the consensus estimate of $834.82 million. For the full 2023-year, the company expects revenue in the range of $3.35 million-3.4 million, compared to the consensus estimate of $3.33 million.