© Reuters.
By Yasin Ebrahim
Investing.com — Splunk on Wednesday lifted its full-year outlook on strong cloud revenue after reporting third-quarter results that topped Wall Street estimates as efforts to cut costs and ongoing cloud demand bolstered performance.
Splunk (NASDAQ:) gained more than 6% in afterhours trading following the report.
The company adjusted EPS of $0.83 on revenue of $930 million, topping estimates of $0.25 on revenue of $847.7M.
Cloud revenue grew 54% to $374M year-over-year.
For the fourth quarter, the company guided revenues in a range of $1.055 billion and $1.085B, compared with estimates for $1.07B.
Full-year revenues are now expected to be between $3.455B and $3.485B, up from a prior estimate of between $3.35B and $3.4B.
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