SAN FRANCISCO (AP) -- Splunk Inc.'s shares slipped Thursday after the data-management software maker's quarterly revenue topped Wall Street's expectations but its adjusted profit only matched views.
In an apparent bit of profit-taking on a stock that has risen 56 percent so far in 2013, shares in the San Francisco company dipped 4 percent in after-hours trading following the release of the earnings report.
Splunk, which went public in 2012, develops software that helps companies collect and analyze massive amounts of internal data. Its customer base is growing due to increasing demand for these types of products.
As a result, Splunk's fiscal first-quarter revenue increased to $57.2 million from $37.2 million on improved license, maintenance and service revenue.
The company narrowed its first-quarter loss to $16.1 million, or 16 cents per share. That is compared with a loss of $20.5 million, or 71 cents per share, in the first quarter last year.
After adjusting for expenses to eliminate stock-based compensation and other unusual items, it had a loss of 6 cents per share, wider than the 4 cents per share loss last year.
Analysts polled by FactSet were expecting the company to post an adjusted loss of 6 cents per share on revenue $54.1 million.
The company said that it expects revenue for its second quarter between $61 million and $63 million; analysts had forecast $61.7 million for the period.
Splunk also raised its full-year revenue forecast. It now expects revenue between $266 million and $274 million, versus its prior forecast of revenue between $260 million and $270 million. Analysts had forecast revenue of $270.4 million for the year.
Its stock shed $1.82 to $43.40 in extended trading. Its fell 65 cents to close regular trading at $45.22.