Splunk sales rise on customer additions
(Reuters) - Data analytics software maker Splunk Inc (SPLK.O) posted a 71 percent rise in second-quarter sales, helped by an increase in the number of customers, and forecast third-quarter sales above Wall Street estimates.
Shares of the company were up 13 percent at $34.50 in extended trading. The stock, which made its debut in April at $32 apiece, closed at $30.50 on the Nasdaq on Thursday.
The company, whose larger rivals in the data analytics segment includes IBM (IBM.N) and Hewlett Packard (HPQ.N), forecast third-quarter revenue of between $45 million and $47 million.
Analysts on average were expecting revenue of $44.7 million, according to Thomson Reuters I/B/E/S.
Second-quarter net loss widened to $4.6 million, or 5 cents per share, from $3.9 million, or 4 cents per share, a year earlier.
Excluding items, the company made a loss of 1 cent per share.
Revenue for the company, which counts Bank of America (BAC.N), Viacom (VIAB.O) and Zynga (ZNGA.O) among its customers, rose to $44.5 million.
The company added about 400 customers and its licensing revenue grew by 61 percent, it said.
Analysts were expecting a loss of 4 cents per share on revenue of $39.84 million.
Splunk, started in 2004 as a troubleshooter for IT departments, helps organizations collect and analyze big data.
(Reporting By Aurindom Mukherjee in Bangalore; Editing by Maju Samuel)