Splunk +8.9% AH on FQ2 beat, guidance hike

Splunk (NASDAQ:SPLK) expects FQ3 revenue of $105M-$107M, above a $104.3M consensus. FY15 (ends Jan. '15) revenue guidance is at $423M-$428M, up from a prior $402M-$410M and above a $411.6M consensus. FY15 op. margin guidance has been raised to 1% from 0%.

License revenue +44% Y/Y in FQ2 to $62.1M, an improvement from FQ1's 42% growth. Services revenue (driven by past license deals) +67% to $39.5M.

Splunk added 500+ customers in FQ2, up from 400+ in FQ1. The total base is now above 7.9K. The deferred revenue balance rose 62% Y/Y to $207M.

GAAP opex rose 101% Y/Y to $146.8M, soundly exceeding revenue growth of 52%. Sales/marketing spend +79% to $80M; R&D +111% to $34.2M.

Shares had gone into earnings down 57% from a February high of $106.15.

FQ2 results, PR

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