Splunk Inc (NASDAQ:SPLK) managed to top expectations on the top and bottom lines with its fiscal third-quarter results.
The data analysis software company posted adjusted earnings of $1.55 per share on revenue of $1.07 billion, compared to expectations of $1.12 per share on revenue of $1.03 billion.
CEO Gary Steele attributed the results in part to the growth of cloud annual recurring revenue (ARR).
“Organizations are continuing to unlock value with Splunk, and in Q3 we saw solid momentum in our cloud business as cloud ARR grew 26% year-over-year and now represents the majority of total ARR,” Steele said in a statement.
Shares of Splunk rose 0.2% to $151.50 after hours Tuesday.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on X, formerly Twitter, @andrew_kessel