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Thursday, September 23, 2021

Here is why Splunk (SPLK) share price rise in after-hour trading

Splunk (NASDAQ: SPLK) share price increased significantly in after-hours trading on March 3 2021 after the company revealed its fourth-quarter results.

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In after-hour trading, Splunk’s share price was increased by 5.11% and moved at $150.50 per share. Early in the normal trading session share price was $143.19 per share.

Fourth Quarter 2021 Financial Highlights

  • Cloud ARR increased 83% year-over-year and it was $810 million.
  • The total ARR increased by 41% to $2.36billion.
  • Total revenue was down 6% year-over-year and it was $745 million.
  • Cloud revenue increased significantly and it was $171 million after 72% increased.
  • 510 customers with ARR greater than $1 million which is 44% increased year-over-year.
  • EPS beat the estimates and it was $0.38.
  • The Q1, 2021 estimated forecast is total revenue of $480-500 million and estimated ARR of $2.42-2.44 billion. The company is expecting adjusted operating margin of -30%.

Full Year 2021 Financial Highlights.

  • GAAP operating margin was negative 35% and GAAP operating loss was $780 million. GAAP loss per share was $5.68.
  • Non-GAAP operating margin was negative 3.8% and Non-GAAP operating loss as $85 million. Non-GAAP loss per share was $0.55.
  • Cloud revenue was 77% up year-over-year and remained $554 million.
  • Total revenue down by 5% year-over-year and it was $2.23 billion.
  • Company had free cash glow of -$228 million and operating cash flow was -$191 million.

About the Splunk:

Splunk is an IT company providing all IT services and soultions. The company aim is world’s first Data-to-Everything Platform designed to remove obstractions between data and action, so that everyone have their required data available in current modern age.

Company has more than 6,000 employees and it has offices all over the world. Compay has 27 branches in the world and company focus is to empower IT, DevOps and security teams with easy availability of their required data.

Doug Merritt is the President and CEO of the company. He is been working with the company since 2015 and also he is board member. He has 30 plus years of working experience in tech industry and worked as senior leaders in different organization such as Sales, Marketing and HR, for companies like Cisco, SAP and PeopleSoft. He is graduated from The University of the Pacific and holds a B.S. in business degree.

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