DigitalOcean shares slump as Q4 earnings guidance falls short [Yahoo! Finance]
DigitalOcean Holdings, Inc. (DOCN)
Company Research
Source: Yahoo! Finance
For the Q3 of fiscal 2024, the cloud service provider reported earnings per share (EPS) of $0.52, topping the consensus estimate of $0.40. Revenue came in at $198 million, also above the estimated $196.68 million. DigitalOcean also posted adjusted EBITDA of $86.7 million, marking a 14% increase year-over-year, and exceeding the estimated $74.2 million. The adjusted EBITDA margin was 44%, compared to 43% in the same period last year. “We had a successful quarter, enabling us to raise our full-year revenue guidance while still maintaining full-year free cash flow margin guidance,” said Paddy Srinivasan, CEO of DigitalOcean. “We continued to accelerate innovation, releasing 42 new product features across our core Cloud and AI platforms in Q3, that directly meet the needs of our larger customers. We made solid progress towards our objective of democratizing access to AI infrastructure and becoming a software-centric AI platform for growing digital-native companies.” For the fourt
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News
- DigitalOcean Announces Availability of Bare Metal GPUs [Yahoo! Finance]Yahoo! Finance
- DigitalOcean Announces Availability of Bare Metal GPUsBusiness Wire
- EasyTrip.AI Launches Version 1.5: Enhanced AI Trip Planner for Personalized, and Eco-Conscious Journeys [Yahoo! Finance]Yahoo! Finance
- DigitalOcean: I Expect Growth To Accelerate In The Foreseeable Future [Seeking Alpha]Seeking Alpha
- The Future of Cloud Operations with emma at AWS re:Invent 2024 [Yahoo! Finance]Yahoo! Finance
DOCN
Earnings
- 11/4/24 - Beat
DOCN
Sec Filings
- 11/19/24 - Form 4
- 11/19/24 - Form 144
- 11/18/24 - Form 144
- DOCN's page on the SEC website