Published on 3 Mar 2022 on MarketWatch
Splunk stock gains following surprise profit, new CEO
Splunk Inc. rose in volatile after-hours trading Wednesday but then shed those gains, dipping into negative territory, as the cloud-based enterprise software company reported a surprise profit, topped Wall Street’s outlook estimates and named a new chief executive.
Splunk shares, which had rallied more than 10% after hours soon shed those gains and dipped into negative territory. Shares closed the after-hours session up 2%, following a 1.4% decline in the regular session to close at $114.92. Over the past 12 months, shares have dropped 23%, compared with a 13% gain by the S&P 500 index and a 3% rise by the tech-heavy Nasdaq Composite Index