BUZZ-Confluent jumps on Q4 rev, profit beat

Reuters
02-12
BUZZ-Confluent jumps on Q4 rev, profit beat

** Confluent CFLT.O soars ~15% to $34.59 premarket

** Live-streaming software posts Q4 rev of $261.2 mln, beating analysts' $256.9 mln estimate, per data compiled by LSEG

** Q4 adj. profit of 9 cents/shr above expected 6 cents/shr

** Forecasts for Q1 and FY25 broadly in-line with estimates

** At least three brokerages raise PT after results

** D.A. Davidson says increasing adoption of co's data streaming platform, as highlighted by management, can drive stabilization in cloud unit growth

** Stock rated "buy" on avg; median PT is $36 - LSEG

** CFLT gained ~20% in 2024, up 7.6% YTD

(Reporting by Purvi Agarwal in Bengaluru)

((Purvi.Agarwal@thomsonreuters.com;))

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