XM does not provide services to residents of the United States of America.

Splunk beats quarterly revenue estimates on robust cybersecurity demand

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Splunk beats quarterly revenue estimates on robust cybersecurity demand</title></head><body>

Nov 28 (Reuters) -Splunk SPLK.O beat quarterly estimates for revenue on Tuesday, helped by resilient demand for its cybersecurity offerings in an uncertain economy.

The cybersecurity firm's stock has risen over 75% this year as investors laud Splunk's move to incorporate artificial intelligence into its products and its focus on subscription or renewable contract models.

Cisco Systems CSCO.O, which cut its annual revenue and profit forecasts earlier this month, entered into an agreement to buy Splunk for about $28 billion in September to strengthen its software business.

Splunk is known for its strengths in the area of data observability, which helps companies monitor their systems for cybersecurity risks and other threats. The company operates a subscription-based pricing model for customers.

Splunk's total annual recurring revenue for the third quarter ended Oct. 31 rose 15% to $4 billion.

It reported total revenue of $1.07 billion, beating analysts' expectations of $1.03 billion, according to LSEG data.

On an adjusted basis, the company earned $1.52 per share compared with estimates of $1.14 per share.

Reporting by Zaheer Kachwala in Bengaluru; Editing by Shailesh Kuber


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.