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November 20, 2015

Splunk CEO resigns on back of strong Q3

News: Big Data software company boosts revenue guidance.

By James Nunns

Godfrey Sullivan has resigned as Splunk CEO.

Sullivan ends his seven year reign in charge of the Big Data software company on the back of its Q3 2015 financial results.

Although he is stepping down as CEO, he will remain nonexecutive chairman, with Douglas Merrit operating as its new president and CEO.

Sullivan said he: "Will continue to work closely with the Board and with Merritt to ensure a smooth transition and implementation of the company’s long-term strategy."

Although the company reported a loss of $73m for the last quarter, compared to $47m a year earlier, it boosted its yearly revenue guidance to around $650m up from $628m.

Revenue sits at $174.4m, up 50% year-over-year. Licensing revenues were $104.2m up 45% year-over-year. The company’s non-GAAP operating income was $6.6m.

Splunk expects revenue for the January quarter to be between $200m and $202m.

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