Datadog Revenue Jumps 27% In Q2, Margins And EPS Exceed Expectations
Portfolio Pulse from Anusuya Lahiri
Datadog, Inc (NASDAQ:DDOG) reported a 27% year-on-year revenue growth for Q2, beating analyst estimates. The company also exceeded expectations with an adjusted EPS of 53 cents. Datadog's customer base with an ARR of $100,000 or more grew by 13% Y/Y. The company projects Q3 revenue of $660 million–$664 million and fiscal 2024 revenue of $2.62 billion–$2.63 billion, both slightly above consensus estimates. DDOG shares traded higher by 3.67% premarket.
August 08, 2024 | 12:37 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Datadog reported strong Q2 results with a 27% revenue growth and an adjusted EPS of 53 cents, both beating analyst estimates. The company also provided a positive outlook for Q3 and fiscal 2024. Shares traded higher by 3.67% premarket.
The strong Q2 results and positive outlook for Q3 and fiscal 2024 are likely to boost investor confidence, leading to a short-term increase in DDOG's stock price. The premarket trading increase of 3.67% reflects this positive sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100