Shares of cloud monitoring software firm Datadog surged nearly 30% in Tuesday trading after the company reported stronger-than-expected third-quarter earnings and full-year guidance.
The company reported quarterly revenue of $547.5 million, up 25% year-over-year, topping estimates.
Datadog reported adjusted earnings per share of 45 cents, better than the 34 cents that analysts expected.
Datadog stock fell significantly in August after it revised its guidance down, citing continued reduction in cloud spending by companies.
Datadog builds cloud monitoring and security products that work with Amazon Web Services, Google Cloud, and Microsoft Azure.
Persons:
Olivier Pomel, Datadog, Pomel
Organizations:
Datadog, LSEG, Amazon Web Services, Google, Microsoft, Nasdaq
Locations:
San Francisco, Snowflake