Confluent, Inc. (CFLT) stock skyrocketed 14.95% in pre-market trading on Wednesday, fueled by robust fourth-quarter earnings that surpassed expectations and promising partnership announcements that bolstered its growth prospects.
The data streaming platform provider reported adjusted earnings per share of $0.09 for Q4 2024, beating analysts' consensus estimate of $0.06. Total revenue grew 22.5% year-over-year to $261.2 million, exceeding forecasts of $256.8 million. The impressive performance was driven by a 38% jump in Confluent Cloud revenue and a 24% increase in subscription revenue to $250.6 million.
Confluent's upbeat guidance for the first quarter of 2025 and the full year further buoyed investor sentiment. The company expects subscription revenue between $253 million and $254 million for Q1 2025 and forecasts full-year 2025 subscription revenue in the range of $1.117 billion to $1.121 billion, indicating sustained growth and profitability.