Splunk Inc. on Thursday reported a loss of $60.8 million in its fiscal second quarter, but the data management software developer raised its estimates for the year, sending its stock up in late trading.
The San Francisco-based company said it took a loss of 51 cents per share. Excluding stock option expense and amortization costs, the company reported a profit of 1 cent per share.
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The results exceeded Wall Street expectations. Analysts surveyed by Zacks Investment Research expected a loss of 2 cents per share on average.
The company posted revenue of $101.5 million in the period, which also beat Street forecasts. Analysts expected $94.1 million, according to Zacks.
For the current quarter ending in October, Splunk said it expects revenue in the range of $105 million to $107 million. Analysts surveyed by Zacks had expected revenue of $104.3 million.
The company also updated its full-year outlook. Splunk now expects revenue of $423 million to $428 million, up from its previous estimate of $402 million to $410 million.
Splunk shares have fallen 34 percent since the beginning of the year. At the close of trading on Thursday, shares were trading at $45.29, a decrease of roughly 6 percent in the last 12 months.