Splunk reported fourth-quarter results late Wednesday that beat estimates on the top and bottom lines, but it offered an outlook that fell short. Splunk stock dropped.
The company reported adjusted income of $2.04 a share on revenue of $1.25 billion. Analysts expected Splunk to report adjusted income of $1.14 a share on revenue of $1.075 billion.
But Splunk said it expects first-quarter revenue of $710 million to $725 million, while analysts had forecast revenue of $807.2 million.
Splunk stock dropped 3.3% to 99.06 during aftermarket action on the stock market today.
"In a time of economic uncertainty, we are pleased with our strategic, competitive and financial position to deliver significant value to our customers and substantially increase free cash flow margins in FY24 through expected growth and continued operating efficiencies." Splunk Chief Financial Officer Brian Roberts said in a news release with the earnings report.
Using data analytics, Splunk helps businesses achieve valuable insights in many areas. This includes in-depth customer research, product development, cost management and competitive analysis.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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