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Datadog Surpasses Q2 Estimates with 27% Revenue Growth, EPS $0.43; Raises 2024 Outlook

Aug 8, 2024, 12:15 PM

Datadog reported strong financial results for the second quarter of 2024, surpassing Wall Street expectations. The company achieved a revenue of $645 million, marking a 27% increase year-over-year, and a non-GAAP earnings per share (EPS) of $0.43, exceeding the estimated $0.37. Datadog's GAAP net income per diluted share was $0.12, with a GAAP operating income of $13 million and a 2% operating margin. Non-GAAP operating income stood at $158 million, with a 24% operating margin. The company raised its full-year 2024 guidance, projecting an adjusted EPS between $1.62 and $1.66, and revenue between $2.62 billion and $2.63 billion. For the third quarter, Datadog anticipates an EPS of $0.38 to $0.40 and revenue between $660 million and $664 million. Despite initial stock fluctuations, shares rose following the earnings announcement.