FMP
Confluent Shares Surge 29% Following Q4 Beat
Feb 8, 2024 8:23 PM - Davit Kirakosyan(Last modified: Feb 9, 2024 2:15 AM)
Image credit: FMP
Confluent's (NASDAQ:CFLT) shares experienced a significant surge, over 29% intra-day today, following the announcement of its fourth-quarter results, which exceeded expectations, along with a positive future outlook.
The company reported an earnings per share (EPS) of $0.09, outperforming the predicted $0.05 by analysts. Its revenue for the quarter reached $213 million, surpassing the consensus forecast of $205.35 million.
For the upcoming first quarter, Confluent anticipates its total revenue to fall between $211 million and $212 million, compared to the analysts' expectations of $211.2 million. However, the expected adjusted EPS is forecasted to be between 0 and 2 cents, below the consensus estimate of 2.3 cents.
Looking further ahead into the full year, the company projects its total revenue to reach approximately $950 million, which is above the analysts' forecast of $936.1 million. Nonetheless, Confluent's anticipated adjusted EPS for the year is set at around 17 cents, marginally below the expected 18 cents.
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