Splunk shares rise 6% on better-than-expected Q4 sales

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Shares of Splunk Inc.
SPLK,
-3.96%
were initially up 6% in extended trading Wednesday after the software company announced fiscal fourth-quarter results that exceeded estimates. Splunk reported a net loss of $139.5 million, or 86 cents a share, compared with a net loss of $22.7 million, or 15 cents a share, in the year-ago quarter. Revenue declined 6% to $745 million from $791.2 million a year ago. Analysts surveyed by FactSet had expected a loss of $1.07 a share on revenue of $678 million. Splunk’s stock has declined 8% the last 12 months. The broader S&P 500 index
SPX,
-1.31%
has improved 22% in the last year.

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