![]() ![]() "Even in the face of uncertain market conditions, Splunk remains one of the fastest growing companies in the history of enterprise software," said Splunk CEO Doug Merritt. Splunk did not provide its guidance for the fiscal year. Splunk responded well below that target, calling for Q4 revenue between $650 million and $700 million. In terms of outlook, analysts are looking for earnings of 45 cents a share on revenue of $777.7 million. The company also signed 444 new enterprise customers in Q3. Meanwhile, Cloud ARR was $630 million, up 71% year-over-year, while total ARR was $2.07 billion, up 44% year-over-year. ![]() ![]() Shares of Splunk were down more than 17% after hours.Įlsewhere on the balance sheet, Splunk said cloud revenues were $145 million, up 80% year-over-year. To read this article on click here.Wall Street was expecting earnings of 9 cents per share on revenue of $613 million. TESSCO Technologies Incorporated (TESS) : Free Stock Analysis Report (SPLK) : Free Stock Analysis ReportĪudioCodes Ltd. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. It is also likely to benefit from its continued focus on high-margin businesses. It has a long-term earnings growth expectation of 9%.ĪudioCodes aims to leverage its long-term partnership with Microsoft to further strengthen its market position. Incorporated in 1992 and headquartered in Lod, Israel, it offers advanced communications software, products and productivity solutions for the digital workplace. AUDC, sporting a Zacks Rank #1, is likely to benefit from the secular tailwinds related to IP-based communications. With more than three decades of experience, it has revolutionized cable access networking via the industry's first virtualized cable access solution, enabling cable operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices.ĪudioCodes Ltd. Harmonic provides video delivery software, products, system solutions, and services worldwide. Earnings estimates for Harmonic for the current year have moved up 48.6% since March 2021. HLIT, carrying a Zacks Rank #2, delivered an earnings surprise of 79.3%, on average, in the trailing four quarters. With more than three decades of experience, it delivers complete end-to-end solutions to the wireless industry. TESSCO offers products to the industry’s top manufacturers in mobile communications, Wi-Fi, wireless backhaul and related products. Earnings estimates for TESSCO for the current year have moved up 44.3% since November 2021. TESSCO Technologies Incorporated TESS, sporting a Zacks Rank #1, delivered an earnings surprise of 126.1%, on average, in the trailing four quarters. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Splunk currently carries a Zacks Rank #2 (Buy). Non-GAAP operating margin is anticipated to be within 12-13%, up from the prior projection of 8%. Non-GAAP operating margin is likely to be within 23% to 26%.įor fiscal 2023 (ending Jan 31, 2023), the company expects total revenues to be between $3,455 million and $3,485 million, up from $3,350 million and $3,400 million expected earlier. Guidanceįor the fourth quarter of fiscal 2023 (ending Jan 31, 2023), Splunk expects total revenues in the range of $1,055-$1,085 million. As of Oct 31, 2022, it had $832.9 million in cash and cash equivalents with $3,097.3 million of long-term debt. GAAP Cloud services gross margin expanded 920 basis points to 68%.ĭuring the first nine months of fiscal 2023, the company generated $173.6 million of cash from operating activities against cash utilization of $4.6 million a year ago. GAAP gross margin improved to 78.3% from 71.7% year over year, owing to higher revenues. The company had 754 customers with ARR greater than $1 million, up 19% year over year. Splunk ended the quarter with total annual recurring revenues (ARR) of $3.47 billion, up 23% year over year. Maintenance and service revenues (18.5%) remained relatively flat at $172.2 million. Cloud services revenues (40.2%) surged 53.9% to $346.4 million, driven by the continued adoption of its cloud platform. License revenues (41.3% of total revenues) were $383.6 million, up 54.1% year over year. Splunk is benefiting from healthy customer engagement, evident from the consistently high net retention and competitive win rates alongside solid momentum with large orders overall. Total revenues in third-quarter fiscal 2023 improved to $929.8 million from $664.8 million in the prior year, beating the consensus estimate of $846 million. ![]()
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