RTTNews | Jun 2, 2021 05:59PM EDT

17:58 Wednesday, June 2, 2021 (RTTNews.com) - Splunk Inc. (SPLK) reported first-quarter net loss of $471.0 million or $2.89 per share, wider than last year's loss of $305.6 million or $1.94 per share last year.

Adjusted loss for the quarter was $0.91 per share, compared to a loss of $0.56 per share last year. Analysts polled by Thomson Reuters expected a loss of $0.70 per share for the quarter. Analysts estimates typically exclude one-time items.

First-quarter revenues rose 16% to $502.1 million from $434.1 million last year. Analysts had a consensus revenue estimate of $491.32 million for the quarter.

Looking forward to second quarter, Splunk expects revenues of $550 million to $570 million. Analysts currently estimate revenues of $561.36 million for the quarter.

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