DigitalOcean Holdings, Inc. (DOCN) saw its shares surge 19.45% in pre-market trading on Tuesday, following the company's better-than-expected fourth quarter earnings results for 2024.
The cloud computing platform provider reported revenue of $204.925 million for the quarter, surpassing analysts' estimates of $200.5 million. DigitalOcean's adjusted earnings per share of $0.49 also exceeded expectations of $0.34.
However, the company's pretax profit of $28.994 million fell short of the estimated $41.8 million, potentially tempering the stock's gains during the regular trading session. Investors will be closely watching DigitalOcean's guidance and management commentary for further insights into the company's growth prospects.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.