By Sam Boughedda
Datadog, Inc. (NASDAQ:DDOG) shares tumbled at the open Thursday on the back of its latest earnings release.
The company topped EPS and revenue expectations, but its weaker-than-expected guidance weighed on the shares in early trading.
The software company reported earnings of $0.26 per share, $0.07 better than the analyst estimate of $0.19, with revenue for the quarter coming in at $469 million versus the consensus estimate of $450.31M.
However, in the current quarter, Datadog sees earnings being between $0.22 and $0.24, versus the consensus of $0.24, with revenue from $466-470M, below the consensus of $482.04M.
Meanwhile, for the full year, the company expects earnings per share to be between $1.02 and $1.09, lower than the consensus of $1.15, with revenue for the year from $2.07-2.09B, again below the consensus of $2.19B.
At the time of writing, DDOG is down 2% at $86.92 per share, but it opened the session at $80.62. So far this year, the stock has gained 18%.