Splunk stock falls as outlook falls short

splunk (SPLK) late Wednesday reported fourth-quarter results that beat estimates for sales and earnings, but offered an outlook that fell short. Splunk stock has fallen.

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The company reported adjusted earnings of $2.04 per share on sales of $1.25 billion. Analysts had expected Splunk to report adjusted earnings per share of $1.14 on sales of $1.075 billion.

However, Splunk said it expects revenue of $710 million to $725 million in the first quarter, while analysts had forecast revenue of $807.2 million.

Splunk shares fell 3.3% to 99.06 during the aftermarket action in the stock market today.

“At a time of economic uncertainty, we are excited about our strategic, competitive and financial position to deliver significant value to our customers and significantly increase free cash flow margins in FY24 through anticipated growth and continued operational efficiencies.” Brian Roberts, Chief Splunk’s financial officer said in a press release accompanying the earnings report.

With the help of data analysis, Splunk helps companies to gain valuable insights in many areas. This includes in-depth customer research, product development, cost management and competitive analysis.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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