![]() ![]() ( AKAM Quick Quote AKAM - Free Report), sporting a Zacks Rank #1, delivered an earnings surprise of 4.86%, on average, in the trailing four quarters. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular and wireless 3G, 4G and IEEE 802-related products and networks.Īkamai Technologies, Inc. It is a pioneer in advanced mobile technologies that enables wireless communications and capabilities. In the last reported quarter, it pulled off an earnings surprise of 579.03%. ( IDCC Quick Quote IDCC - Free Report), sporting a Zacks Rank #1, delivered an earnings surprise of 170.89%, on average, in the trailing four quarters. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Splunk currently sporting a Zacks Rank #3 (Hold). Total ARR is expected in the range of $4.125 billion and $4.175 billion. Free cash flow is projected between $805 million and $825 million. Non-GAAP operating margin is anticipated to be within 18%-18.5%, higher than previous estimated range of 16.5-17.5%. The company expects revenues to be approximately $3.9 billion which is at the higher end of the previous guidance level of $3.85-$3.9 billion. The company expects a negative free cash flow of 15 million in the upcoming quarter.įor fiscal 2024, management updated their previous revenue guidance level as it expects healthy demand trends backed by higher investment in research & development and focus on operational efficiency. Total ARR is expected to be around $3.825 billion. Non-GAAP operating margin is projected in the range of 10-12%. Outlookįor second-quarter fiscal 2024, management estimates total revenues to be in the range of $880-$895 million. As of Apthe company had $801.5 million in cash and cash equivalents with $3,100.9 million long-term debt. Cash Flow & Liquidityĭuring the first quarter of fiscal 2024, Splunk generated $491.8 million net cash from operating activities compared to $143.3 million reported in the year-ago quarter. Non-GAAP operating income aggregated to $25 million against an operating loss $57.3 million in the prior-year period, with respective margins of 3.3% and a negative 8.5%. Non-GAAP gross margin from cloud services rose 600 basis points year over year to 73.6%, surpassing management’s expectations. Gross profit increased to $544.3 million from $471.9 million in the prior-year quarter. Cloud ARR increased 29% to $1.815 billion. The company had 810 customers with an ARR of more than $1 million at the end of the first quarter. Total annual recurring revenues (ARR) were $3.725 billion, up 16% year over year. Net sales from Maintenance and services decreased to $160.6 million from $165.3 million in the year-ago quarter. License revenues stood at $171.4 million, down from $185.8 million year over year. The uptick was propelled by rising demand of its cloud services. Backed by its enterprise scale and unified product portfolio, Splunk witnessed significant customer additions and several project wins in the public and private sector.Ĭloud services revenues rose to $419.4 million up 30% from $322.9 million in the year-ago quarter. ![]() Top-line growth was driven by positive demand trends in cloud services, cybersecurity and observability domains. ![]() ![]() The top line surpassed the consensus estimate of $719 million. Total revenues in first-quarter fiscal 2024 increased to $751.5 million from $674.1 million reported in the prior year. price-consensus-eps-surprise-chart | Splunk Inc. The bottom line beat the Zacks Consensus Estimate by 35 cents. Non-GAAP net income in the reported quarter was $34.1 million or 18 cents per share against a net loss of $52.1 million or a loss of 32 cents per share in the year-ago quarter. The improved performance was primarily attributable to top-line growth and lower operating expenses. On a GAAP basis, the company incurred a net loss of $196.4 million or a loss of $1.19 per share compared with a net loss of $304.3 million or $1.90 per share in the prior-year quarter. Despite macroeconomic headwinds, the company reported higher revenues year over year, driven by rising customer engagements, continuous innovation and a robust product portfolio. Splunk is witnessing healthy traction in cloud services and cybersecurity domain. The company’s expense-control strategy and focus on improving operational efficiency supported the bottom line. ( SPLK Quick Quote SPLK - Free Report) reported impressive first-quarter fiscal 2024 results, with the bottom and the top line beating the respective Zack Consensus Estimate. ![]()
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