Shares of Splunk (NASDAQ: SPLK) are seeing big swings in Thursday's trading. The enterprise search software company's stock was down roughly 1% as of 2:30 p.m. ET, according to data from S&P Global Market Intelligence. However, the stock had been up by as much as 11.3% in the daily trading session before the market reassessed the company's first-quarter earnings results and guidance. 

Splunk published its Q1 earnings after the market closed yesterday, posting sales and earnings results for the period that came in ahead of Wall Street targets. The company reported non-GAAP (adjusted) earnings per share of $0.18 on revenue of $752 million. Meanwhile, the average analyst estimate had called for a loss of $0.12 per share on sales of $727.2 million. 

Splunk's revenue climbed 11% year over year in the first quarter, and its cloud revenue grew 30% to hit $419 million. The company's total annualized recurring revenue also grew 16% year over year to reach $3.725 billion.

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Source Fool.com