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Revenue: $268.3 million vs analyst estimates of $252.5 million (6.3% beat) EPS: -$0.09 vs analyst expectations of -$0.06 (44.6% miss)
DigitalOcean (NYSE:DOCN) stock rose 10% in premarket trading on Thursday after the cloud computing company posted a narrower loss than expected in the third quarter and beat revenue estimates.
Here's a quick summary of other key metrics from the report, compared with Wall Street expectations:
MetricActualExpectedVarianceRevenue$268.3 million$252.5 million6.3% beat
EPS loss$0.09$0.0644.6% miss
EBITDA$53.6 million$49.96 million7.3% beat
Highlights:
DigitalOcean now has 14,000 paying customers, up from 11,000 at the end of 2021.
Its revenue growth slowed down from 40% in the second quarter, but still remained strong.
The company's net loss narrowed down to $20.1 million from a loss of $64.8 million last year.
DigitalOcean also raised its revenue and EBITDA guidance for the full year.
Now checkout our full research report on DigitalOcean for a deeper analysis of the results, and key takeaways.
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