Shares of Confluent, Inc. (NASDAQ: CFLT), a leading data infrastructure software company, surged by over 13% on October 30, 2024, after the company reported better-than-expected financial results for the third quarter of 2024.
Confluent's adjusted earnings per share (EPS) for Q3 2024 came in at $0.10, significantly beating the consensus estimate of $0.05 set by analysts. The company also delivered revenue of $250.2 million, exceeding Wall Street's expectations of around $244-245 million.
The strong quarterly performance was driven by a nearly 25% year-over-year increase in revenue, reflecting robust demand for Confluent's data streaming platform. The company's impressive results underscore its ability to capitalize on the growing adoption of cloud computing and digital transformation initiatives across various industries.
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