Stock Alert: Splunk Tanks 25% On Quarterly Results, Outlook

(RTTNews) - Shares of Splunk Inc. (SPLK) are losing nearly 25% on Thursday morning after its third-quarter results missed Street expectations and outlook also were below estimates.

SPLK is currently trading at $154.46, down $51.45 or 24.99%, on the Nasdaq.

Splunk's third-quarter net loss widened to $201.5 million or $1.26 per share from $57.6 million or $0.38 per share last year.

On an adjusted basis, loss were $0.07 per share, compared to $0.58 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.09 per share.

Revenues dropped 11% to $558.6 million from $626.3 million last year. Analysts estimated revenues of $613.03 million.

For the fourth quarter, the company expects revenues between $650 million and $700 million. Analysts currently sees revenues of $777.73 million.