Splunk Inc. (SPLK), a global software solutions company, yesterday reported their fiscal second quarter 2017 financial results.
Splunk reported adjusted second quarter earnings of $0.08 per share which beat analyst expectations of $0.06 per share. SPLKreported second quarter revenues of $280 million which fell short of analyst expectations of $268.7 million.
Splunk Inc. CEO’s Comments
“I am pleased with the solid sales execution in Q2, particularly our results in EMEA,”said Doug Merritt, President and CEO, Splunk. “As I traveled across Europe, Asia and North America over the last two months, I was excited to see businesses, governments and universities adopting Splunk across multiple departments and use cases. Customer success and product innovation are at the heart of what we do. I am looking forward to the more than 140 customer presentations at .conf2017, our annual users conference, September 25-28 in Washington, D.C. It is an excellent opportunity to learn the many new ways that leading organizations are using Splunk software to solve problems and gain Operational Intelligence.” Business Wire
SPLK Technical Analysis
SPLK opened trading yesterday at $60.68 which was up from the previous day’s trading close of $60.33. Shares closed trading yesterday at $60.28 and spiked up in the after hours to $65.39, equivalent to an 8% increase from the closing price. Taking a look at the daily chart we can see the last time SPLK traded above these levels we have to go back to May 25th when it traded at lows of $67.09.
Taking a closer look at the daily chart we can see that before the spike up SPLK had been in an overall downward trend dating back to May 16th when it traded at $68.83. SPLK has a float of 137.25 million shares and traded 1.34 times the normal daily trading volume on Thursday.