Splunk Pares Loss After CEO Says Cloud Shift Drove View Miss
Photographer: David Paul Morris/Bloomberg
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Splunk Inc. shares rallied back from a 15% loss in post-market trading after the company’s chief executive offered reassurances that growth is intact despite revenue forecasts that trailed Wall Street estimates.
The data-software company forecast fiscal 2021 revenue of about $2.6 billion, which fell short of the average analyst estimate of $2.88 billion. First-quarter revenue is expected to be about $450 million, compared with an estimate of $523 million.