In this quick take, host Daniel Newman talks about this quarter's happenings at Splunk, including the abrupt departure of their CEO Doug Merritt, and his replacement, Graham Smith, who is stepping in as interim CEO. Splunk is focused on positioning themselves for long-term growth and anticipates its cloud business hitting $2 billion in the next fiscal year. In terms of its numbers, the company seems to be doing well across the board, with total revenue growth up about 20% to $665 million and impressive growth in its customer base. Despite this success, their stock share price isn't doing as well, but this is where he thinks patience will pay off.
