Q3 2024 Earnings

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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