Splunk Reports Solid 3Q Results Ahead of Acquisition

Company’s cloud ARR grows 26% year over year.

By almost all accounts, Splunk’s fiscal-2024 third-quarter earnings report was a modest “beat” over expectations, putting the cybersecurity and observability leader in a good groove ahead of its previously announced acquisition by Cisco.

For the period ended Oct. 31, 2023, Splunk reported net income of $96.9 million compared to a net loss of $32.6 million in the prior-year quarter. The improved performance was primarily attributable to top-line revenue growth, which increased to $1.1 billion from $929.8 million in the prior year.