5 Earnings Reports Catching Investors’ Attention

4. Datadog, Inc. (NASDAQ:DDOG)

Number of Hedge Fund Holders: 73

Datadog, Inc. (NASDAQ:DDOG) recently delivered solid profit and sales for the first quarter along with an upbeat outlook for the full year. Yet, Datadog stock fell nearly six percent on Thursday, May 5, 2022, following the results for no apparent reason.

The software company reported adjusted earnings of 24 cents per share, crushing expectations of 11 cents per share. In addition, Datadog, Inc. (NASDAQ:DDOG) posted revenue of $363 million, up 83 percent on a year-over-year basis and above estimates of $337.8 million.

Datadog, Inc. (NASDAQ:DDOG) also raised its profit outlook for the full year. The company now anticipates adjusted earnings in the range of 70 – 77 cents per share, above analysts’ average estimate of 52 cents per share.

Speaking on the results, CEO Olivier Pomel said:

“Companies are increasingly relying on software and cloud services to drive revenue, competitive advantage, and positive business outcomes. By using our unified, cloud-native, end-to-end observability and security platform, our customers can understand, manage, and drive value from their exponentially growing and ephemeral cloud environments.”