Splunk Inc Sales Increase with Greater Demand for Big Data Software
Splunk Inc reported that fiscal first-quarter sales increased 80 percent in its first earnings report since its share sales. It is reported that revenue in the period ended April 30 rose to $34.2 million from $20.6 million last year. However, Splunk‚Äôs net loss also increased from a loss of $2.25 million to $20.5 million as the company bolstered investment to take advantage of surging demand.
Splunk is a maker of software that helps businesses analyze web data and is one of the first big data companies to go public when it debuted 6 weeks ago.
The current market value of Splunk stands at $3.08 billion (31 May 2012).
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