In Friday trading, Splunk Inc. (SPLK, Financial) traded higher after the company reported its financial results for the fourth quarter. The company posted adjusted earnings of 37 cents per share on revenue of $419.7 million, which was higher than the figure reported a year earlier. Moreover, Splunk managed to beat earnings per share expectations by 4 cents, and $28.81 million in revenue. The company also managed to deliver 37% sales growth year-over-year.
Doug Merritt, president and CEO, said, “Organizations around the world are increasingly turning to Splunk to get strategic business answers from their machine data. Our opportunity is massive."
Shares of The Gap Inc. (GPS, Financial) lost ground on the heels of the company reporting its financial results for the fourth quarter. The company posted adjusted earnings of 61 cents per share. The company’s revenue of $4.78 billion was also higher than the figure reported a year earlier, 7.9% year-over-year. Further, the company managed to beat earnings estimates by 3 cents and $110 million in revenue.
Art Peck, president and CEO said, “Our strong positive comp and margin expansion during the critical holiday quarter affirms our balanced growth strategy.” He added, “Our outlook for 2018 demonstrates confidence in our strategy and a meaningful step up in earnings capacity for the company.”
Looking ahead, the company expects diluted earnings per share to be between $2.55 and $2.70 and comparable sales for fiscal year 2018 are expected to be flat to up slightly.
Shares of Foot Locker Inc. (FL, Financial) reported a fiscal fourth-quarter loss of $49 million, after reporting a profit in the same trimester a year earlier. The company reported a loss of 40 cents per share, but adjusted earnings reached $1.26 per share, exceeding estimates by 1 cent. However, the revenue came short of estimations.
Disclosure: The author holds no position in any stocks mentioned.
