Why Splunk Stock Popped Today
Shares of Splunk (NASDAQ: SPLK) were climbing today after the data-monitoring software company crushed estimates in its third-quarter earnings report. The stock was up 11% as of 11:46 a.m. ET.
Splunk, which offers tools for monitoring, searching, and organizing data, said that revenue jumped 40% to $929.8 million, easily beating estimates at $846.9 million.
Cloud revenue rose 54% to $374 million, and it saw strong growth from its existing customer base, with a net retention rate up 127%. Customers with annual recurring revenue above $1 million increased 19% to 754.
Source Fool.com
