Datadog Stock Plunges After Sharing Weak FY23 Outlook - What's Going On?
Portfolio Pulse from Anusuya Lahiri
Datadog, Inc. (NASDAQ:DDOG) reported Q2 FY23 revenue growth of 25% YoY to $509.5 million, beating consensus estimates. However, the company cut its FY23 revenue outlook to $2.05 billion - $2.06 billion, down from the prior $2.08 billion - $2.10 billion, which led to a 16.20% drop in its stock price.
August 08, 2023 | 7:53 pm
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Datadog's stock price fell by 16.20% after the company lowered its FY23 revenue outlook, despite beating Q2 estimates.
Datadog's Q2 earnings beat estimates, but the company's decision to lower its FY23 revenue outlook has negatively impacted investor sentiment, leading to a significant drop in its stock price.
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