Splunk delivered better-than-expected second quarter financial results and announced its plans to acquire cloud monitoring company SingalFx for $1.05 billion — its largest acquisition to date. Splunk CEO Doug Merritt said the purchase will enable to Splunk offer customers a single data platform that can monitor cloud-native infrastructure and enterprise applications in real time.
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“The combination of Splunk and SignalFx will give IT and developers a data platform that allows them to monitor and observe data in real time, no matter the infrastructure or data volume, helping them cut costs, boost revenue and improve the customer experience,” Splunk said in a press release.
“This enables organizations to work across their entire data landscape, not just silos in the data center or cloud-native environments.”
As for the numbers, the machine data software provider reported a quarterly net loss of $100.8 million, or 67 cents per share. Splunk’s non-GAAP earnings came to 30 cents per share on revenue of $517 million, up 33% from the same time last year.
Wall Street was expecting earnings of 12 cents per share on revenue of $488.35 million. Shares of Splunk were up more than 6% after hours.
Elsewhere on the balance sheet, Splunk said software revenues were $350 million, up 46% year-over-year. The company also landed more than 500 new enterprise customers in Q2.
In terms of outlook, analysts are looking for earnings of 52 a share on revenue of $590.52 million. Splunk responded above target, calling for Q3 revenue of $600 million. Splunk also upped its guidance for the fiscal year to be approximately $2.30 billion.
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