Datadog early Thursday reported June-quarter earnings and revenue that topped analyst estimates. DDOG stock slipped as guidance only met expectations amid worries the U.S. economy could fall into a recession.
Datadog stock dropped 1.7% to close at 110.49 on the stock market today. DDOG stock pared its losses from earlier in the day. The enterprise software maker reported second-quarter earnings before the market open.
Datadog earnings were 24 cents per share on an adjusted basis, up 144% from 9 cents a year earlier.
Revenue jumped 74% to $406 million, amid an expanding partnership with Amazon Web Services, the cloud computing unit of Amazon.com.
Analysts expected Datadog to report profit of 15 cents a share on revenue of $382 million.
DDOG Stock: Revenue Guidance Meets Expectations
Datadog said it had 2,420 customers with annual recurring revenue of $100,000 or more as of June 30, up from 1,570 a year earlier.
For the current quarter ending in September, Datadog forecast profit of 16 cents vs. estimates of 16 cents. Datadog said it expects revenue of $412 million vs. estimates of $412.7 million.
Started in 2010, Datadog operates a monitoring and analytics platform for software developers and information-technology departments. Heading into the Datadog earnings report, the software stock had a Relative Strength Rating of 30 out of a best-possible 99, according to IBD Stock Checkup.
DDOG stock is down about 40% so far in 2022.
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