Why Splunk Stock Dropped 17.4% in August
Shares of Splunk (NASDAQ: SPLK) fell 17.4% in August, according to data from S&P Global Market Intelligence. The operational intelligence platform specialist absolutely crushed estimates for its fiscal second quarter, but followed by significantly reducing its cash flow expectations for the rest of this year.
Before you go tapping that sell button yourself, you should note that Splunk's quarterly results were just as incredible as they looked on paper: Revenue climbed 33% year over year to $516.6 million, translating to adjusted net income of $46.6 million, or $0.30 per share. Analysts on average were looking for earnings of only $0.12 per share, and Splunk's outlook called for revenue of just $485 million.
Image source: Getty Images.
Source Fool.com
