Splunk (SPLK) Reports In-Line Q4 EPS; Guides Below

Splunk (NASDAQ: SPLK) reported Q4 EPS of $0.96, in-line with the analyst estimate of $0.96. Revenue for the quarter came in at $791 million versus the consensus estimate of $783.19 million.

“This was a transformational year for Splunk. We have transitioned our business model, our product strategy and introduced new and enhanced pricing models as part of our company-wide, cloud-first approach. These shifts have provided unprecedented value to our customers by bringing Data-to-Everything,” said Doug Merritt, President and CEO, Splunk.

“As we deliver increasing value from our expanding product capabilities, customers are turning to our cloud offerings more and more. We expect our cloud products could represent more than 60% of our total software business in the next few years and during this shift, ARR is the best metric to evaluate our growth,” said Jason Child, chief financial officer, Splunk. “We grew ARR by 54% in fiscal year 2020 and are targeting a 40% ARR CAGR over the next three fiscal years.”

GUIDANCE:

Splunk sees Q1 2021 revenue of $450 million, versus the consensus of $526.7 million.

Splunk sees FY2021 revenue of $2.6 billion, versus the consensus of $2.88 billion.

For earnings history and earnings-related data on Splunk (SPLK) click here.

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