SPLUNK INC Reports Q2 FY2024 Earnings Results for August 23 2023
August 31, 2023
🌥️Earnings Overview
Splunk Inc ($NASDAQ:SPLK) reported their Q2 FY2024 earnings results on July 31 2023, which ended on August 23 of the same year. Total revenue was USD 910.6 million and represented a 14.0% increase compared to the same quarter in the prior year. Net income was reported at USD -63.2 million, a significant improvement from the -209.7 million of the prior year’s quarter.
Market Price
The company’s stock opened at $98.9 and closed at $99.9, up by 1.8% from its previous closing price of 98.2. This marked the third consecutive quarter of gains for SPLUNK INC, which has seen its stock rise significantly since the beginning of the fiscal year. The strong performance of SPLUNK INC was driven by strong sales and strategic partnerships with other tech companies. Investors reacted positively to SPLUNK INC’s earnings report, with traders citing the company’s strong performance as a sign that it was on a good track for continuing success.
SPLUNK INC has made a number of investments over the past few years to improve its products and services, and these efforts seem to have paid off in the form of increased sales. Going forward, investors and analysts are optimistic about SPLUNK INC’s prospects for continued strong growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Splunk Inc. More…
| Total Revenues | Net Income | Net Margin |
| 3.84k | -23.5 | -0.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Splunk Inc. More…
| Operations | Investing | Financing |
| 826.54 | 52.03 | -103 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Splunk Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.08k | 6.12k | -0.24 |
Key Ratios Snapshot
Some of the financial key ratios for Splunk Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.9% | – | 0.9% |
| FCF Margin | ROE | ROA |
| 20.9% | -21.4% | 0.3% |
Analysis
GoodWhale has conducted an analysis of SPLUNK INC‘s wellbeing, and on our Star Chart, we have classified the company as a ‘cheetah’, which indicates that while it has achieved high revenue or earnings growth, it is considered less stable due to lower profitability. Investors who are interested in companies that are growing rapidly with high potential, but may be more volatile than other investments may be attracted to SPLUNK INC. Our health score for SPLUNK INC is 5/10, indicating that while the company is likely to pay off debt and fund future operations, it is not as financially robust as some other investments. It is strong in growth but weak in assets, dividends, and profitability. More…
Peers
The market for operational intelligence is growing rapidly as more and more companies seek to gain insights into their businesses. Splunk Inc, a leading provider of operational intelligence software, is facing stiff competition from a number of well-established players, including Softline Holding PLC, OneSoft Solutions Inc, and Freee KK. While each of these companies offers a different solution, they all share a common goal: to help businesses make better decisions by providing visibility into their data.
– Softline Holding PLC ($LSE:SFTL)
Softline Holding PLC is a publicly traded company with a market capitalization of 209.41 million as of 2022. The company has a return on equity of 37.66%. Softline Holding PLC is a provider of software and services. The company offers a range of software products, including operating systems, productivity suites, and business applications. The company also provides a range of services, such as consulting, support, and training.
– OneSoft Solutions Inc ($TSXV:OSS)
OneSoft Solutions Inc is a Canadian software company that offers enterprise resource planning (ERP) solutions for businesses of all sizes. The company has a market cap of $56.71 million and a return on equity of -69.52%. OneSoft’s ERP solutions are designed to help businesses manage their finances, operations, and supply chain.
– Freee KK ($TSE:4478)
Freee KK is a Japanese holding company that operates in the internet services industry. The company offers a variety of services, including social networking, e-commerce, and web portal services. As of 2022, Freee KK had a market capitalization of 161.52 billion yen and a return on equity of -18.72%. The company’s negative return on equity indicates that it is not generating enough profit to cover its cost of equity. However, Freee KK’s large market capitalization indicates that it is a well-established company with a strong presence in the Japanese internet services industry.
Summary
Splunk Inc reported their second quarter financial results for fiscal year 2024, showing an impressive 14% year-over-year increase in total revenue to USD 910.6 million. Net income also saw an improvement from the same period last year, reaching USD -63.2 million. This indicates a positive trend in Splunk’s financial performance, and may be an attractive option for investors looking for consistent growth. Splunk’s commitment to innovation and strong product portfolio may further drive the company’s growth, making it a highly attractive investment opportunity.
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