Stock Analysis
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- NYSE:DOCN
DigitalOcean Holdings Second Quarter 2024 Earnings: Beats Expectations
DigitalOcean Holdings (NYSE:DOCN) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$192.5m (up 13% from 2Q 2023).
- Net income: US$19.1m (up by US$18.5m from 2Q 2023).
- Profit margin: 9.9% (up from 0.4% in 2Q 2023).
- EPS: US$0.21 (up from US$0.007 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
DigitalOcean Holdings Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 34%.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the IT industry in the US.
Performance of the American IT industry.
The company's shares are up 29% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 4 warning signs for DigitalOcean Holdings you should be aware of, and 2 of them shouldn't be ignored.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NYSE:DOCN
DigitalOcean Holdings
Through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally.