DigitalOcean (DOCN) Jumps 29% on Strong Q2, H1 Earnings

We recently published 10 Stocks With Surprising Gains Amid Market Meltdown. DigitalOcean Holdings, Inc. (NYSE:DOCN) is one of the best-performing stocks on Tuesday.

DigitalOcean soared by 28.88 percent on Tuesday to close at $34.81 apiece as investors cheered its strong earnings performance for both the second quarter and first half of the year.

In its updated report, DigitalOcean Holdings, Inc. (NYSE:DOCN) said net income attributable to shareholders in the second quarter jumped by 95 percent to $37 million from $19 million in the same period last year, while revenues grew by 13.6 percent to $218.7 million from $192.5 million year-on-year.

Attributable net income in the first half also increased by 127 percent to $75 million from $33 million year-on-year, while revenues grew by 13.8 percent to $429 million from $377 million year-on-year.

Photo by Caspar Camille Rubin on Unsplash

Amid the encouraging results, DigitalOcean Holdings, Inc. (NYSE:DOCN) raised its full-year revenue guidance to $892 million from $888 million, and targeted revenues in the third quarter to be at $226 million to $227 million.