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Splunk Delivers Slight Quarterly Beat

SAN FRANCISCO ( TheStreet) -- Splunk (SPLK - Get Report) eased past Wall Street's estimates in its first quarterly report since its IPO last month, boosted by the addition of 350 new customers.

The big data specialist brought in revenue of $37.2 million, an 80% hike compared to the same period last year, and comfortably above analysts' forecast of $34.1 million. Excluding items, Splunk lost 4 cents a share. Analysts surveyed by Yahoo! Finance were looking for a loss of 6 cents a share.
Splunk reported its first-quarter results after market close.

"Our first quarter was a strong start to fiscal 2013 and continues the momentum we experienced last year," explained Splunk CEO Godfrey Sullivan, in a statement released after market close. "We added more than 350 new customers and now have over 4,000 customers using Splunk software to achieve operational intelligence from their machine-generated data."

For the second quarter, Splunk expects revenue between $38 million and $40 million, above Wall Street's forecast of $34.48 million. For the fiscal year, the San Francisco-based company projects sales of between $174 million and $177 million. Analysts surveyed by Yahoo! Finance are looking for revenue of $172.34 million.

Splunk shares slipped 0.09% to $32.53 in extended trading on Thursday.

-- Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

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