DigitalOcean Holdings Q3 Revenue $172.5-$174M Vs $179.51M Est.; FY23 Revenue $680M-$685M Vs $704.14M Est.
Portfolio Pulse from Happy Mohamed
DigitalOcean Holdings (DOCN) has provided its Q3 and FY23 financial outlook. The company expects Q3 revenue to be between $172.5M and $174M, and FY23 revenue to be between $680M and $685M. Both estimates are lower than the market expectations of $179.51M for Q3 and $704.14M for FY23. The company will provide Q3 2023 and full year 2023 non-GAAP diluted net income per share estimates after finalizing the correction of tax expense errors.
August 04, 2023 | 2:45 pm
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DigitalOcean's lower than expected revenue forecasts for Q3 and FY23 could negatively impact its stock price in the short term.
Companies' stock prices often react to their earnings forecasts. In this case, DigitalOcean's lower than expected revenue forecasts for Q3 and FY23 could lead to a decrease in its stock price as it indicates potential future underperformance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100