Splunk (NASDAQ:SPLK) reported its Q1 earnings yesterday, with an EPS of $0.18 coming in better than the Street estimate of ($0.14). Revenue was $752 million, above the Street estimate of $722.99 million.

The strong quarterly results were driven by consistent execution as the focus remains on profitable growth. For Q2/24, the company anticipates revenue to be in the range of $880-$895 million, compared to the Street estimate of $868 million.

Despite near-term macro uncertainty, analysts at RBC Capital believe the company's R&D and GTM investments as well as overall operational improvements position them well to re-accelerate ARR growth as the economy recovers.