5 Stocks Drawing Attention on Quarterly Results

3. Splunk Inc. (NASDAQ:SPLK)

Number of Hedge Fund Holders: 42

Splunk Inc. (NASDAQ:SPLK) delivered impressive financial results for its fiscal first quarter and an upbeat sales outlook for the full year. As a result, its shares jumped over 5 percent in the pre-market trading session on Thursday, May 26, 2022.

The software company reported an adjusted loss of 32 cents per share, narrower than analysts’ average estimate for a loss of 74 cents per share. In addition, Splunk Inc. (NASDAQ:SPLK) posted revenue of $674.08 million, up 34.3 percent versus last year and ahead of the expectations of $628.75 million.

For its fiscal year 2023, Splunk Inc. (NASDAQ:SPLK) now expects revenue of $3.3 – $3.35 billion versus its previous outlook of $3.25 – $3.3 billion. The revised guidance is better than analysts’ average estimate of $3.27 billion.

Discussing the results, CEO Gary Steele said:

“Splunk is still very early in a massive market opportunity. As our continued growth and strong customer retention demonstrate, we are the system-of-record for our customers and one that’s deeply embedded within their organization’s security and IT operations.”