Confluent Shares Surge On Q4 Earnings: The Details
Portfolio Pulse from Adam Eckert
Confluent Inc (NASDAQ:CFLT) shares surged in after-hours trading following the company's Q4 earnings report, which exceeded expectations. Q4 revenue reached $213.18 million, surpassing estimates of $205.26 million, and adjusted EPS was 9 cents, beating the 5 cents estimate. The company reported a 26% year-over-year increase in total revenues, with subscription revenues up 31% and Confluent cloud revenues up 46%. Confluent ended the quarter with 1,229 customers with $100,000 or greater in annual recurring revenue. The company provided an optimistic outlook for Q1 and the full year of 2024, expecting revenues of $211-$212 million for Q1 and approximately $950 million for the full year.
February 07, 2024 | 9:50 pm
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POSITIVE IMPACT
Confluent Inc's Q4 earnings report exceeded expectations with significant revenue and EPS beats, leading to a surge in after-hours trading. The company also provided a strong outlook for Q1 and the full year of 2024.
The positive earnings report and the optimistic outlook for the future indicate a strong performance and growth potential for Confluent Inc. The significant beats on both revenue and EPS, along with the growth in subscription and cloud revenues, are likely to positively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100