Splunk (SPLK) Tops Q1 EPS by 32c, Offers Guidance

Splunk (NASDAQ: SPLK) reported Q1 EPS of $0.18, $0.32 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $752 million versus the consensus estimate of $722.99 million.

GUIDANCE:

Splunk sees Q2 2024 revenue of $880-895 million, versus the consensus of $868 million.

• Total ARR is expected to be approximately $3.825 billion.
• Total revenues are expected to be between $880 million and $895 million.
• Non-GAAP operating margin is expected to be between 10% and 12%.
• Free cash flow is expected to be approximately negative $15 million which implies trailing twelve months free cash flow of $785 million.

The company is providing or updating the following guidance for its fiscal year 2024 (ending January 31, 2024):

• Total ARR is expected to be between $4.125 billion and $4.175 billion.
• Total revenues are expected to be at the top-end of our prior range of approximately $3.9 billion (was previously between $3.85 billion and $3.9 billion).
• Non-GAAP operating margin is expected to be between 18% and 18.5% (was previously between 16.5% and 17.5%).
• Free cash flow is expected to be between $805 million and $825 million (was previously between $775 million and $795 million).

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

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