Why Splunk Stock Was Slammed on Thursday
Shares of data monitoring and analytics platform provider Splunk (NASDAQ: SPLK) were hit hard on Thursday after the company delivered a disappointing third-quarter report. The stock fell by as much as 25.9%, and as of 2:24 p.m. EST, was trading down by about 21%.
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Splunk's Q3 results and management's guidance for Q4 were both well below analysts' expectations. Revenue came in at $559 million, down 11% year over year. On average, analysts were expecting revenue of $613 million. Splunk also reported an adjusted loss per share of $1.26 -- far behind the $0.09 per share in profit analysts had been modeling for.
Source Fool.com
