UPDATE 1-Data analytics firm Splunk's results beat estimates

Thursday, 21 Nov 2013 | 4:47 PM ET

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Nov 21 (Reuters) - Data analytics software maker Splunk Inc reported better-than-expected quarterly results as the company added more customers, and raised its full-year revenue forecast.

Splunk shares rose as much as 11 percent in extended trading.

The company raised its revenue forecast for the year ending January to $291 million-$293 million from $275 million-$281 million.

Companies are increasingly turning to software firms to help index and search data using Hadoop, the open-source software widely used in Big Data analysis.

This is driving the growth of Splunk and rivals such as Tableau Software Inc and Tibco Software Inc.

Splunk added 450 customers, including Nasdaq OMX, MegaFon and Tesla Motors, in the third quarter ended Oct. 31, ending the three months with more than 6,400 customers.

Splunk's net loss widened to $16.6 million, or 16 cents per share, in the quarter from $5.5 million, or 6 cents per share, a year earlier.

Excluding items, the company broke even.

Splunk has reported a quarterly profit only once since going public in April last year.

Revenue rose to $78.6 million in the third quarter from $52 million.

Analysts on average had expected a loss of 1 cent per share on revenue of $71.1 million, according to Thomson Reuters I/B/E/S.

Splunk shares were trading at $64.79 after the bell. The stock closed at $62.53 on Thursday on the Nasdaq, having doubled this year.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Kirti Pandey)