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DigitalOcean is growing and is generating free cash flow. The company may be moving away from its core customer base, which may increase the competitive risk for this promising business.
Digital Ocean is excellently serving smaller businesses in the cloud computing market.
The cloud computing industry is dominated by Microsoft, Amazon, and Alphabet, which fight over the customers with the biggest budgets. DigitalOcean serves small and mid-sized businesses exclusively, which is proving to be a very valuable niche.
Cloud service provider DigitalOcean's top and bottom lines both continued to grow last quarter. Moreover, revenue and earnings are likely to continue growing regardless of the environment.
DigitalOcean Holdings, Inc. (NYSE:DOCN ) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Melanie Strate - Head of IR Paddy Srinivasan - CEO Matt Steinfort - CFO Conference Call Participants Gabriela Borges - Goldman Sachs Raimo Lenschow - Barclays Kingsley Crane - Canaccord Genuity Patrick Walravens - JMP Securities Mike Cikos - Needham Pinjalim Bora - JPMorgan Operator Thank you for standing by, and welcome to the DigitalOcean Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.
While the top- and bottom-line numbers for DigitalOcean (DOCN) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
DigitalOcean Holdings, Inc. (DOCN) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.44 per share a year ago.
DigitalOcean's (DOCN) second-quarter 2024 performance is likely to reflect the benefits of a robust product portfolio and the strong demand for its AI platform and cloud-based services.
Beyond analysts' top -and-bottom-line estimates for DigitalOcean (DOCN), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
DigitalOcean (DOCN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.