Datadog Inc DDOG is trading higher Thursday morning after the company announced better-than-expected fourth-quarter financial results and issued guidance above estimates.
Datadog said quarterly revenue increased 84% year-over-year to $326.2 million, which beat the estimate of $291.48 million. The company reported quarterly earnings of 20 cents per share, which beat the 12 cent estimate.
"We continue to believe we're in early days with our opportunities in observability. And we are just starting our efforts in cloud security and developer-focused products. We have much to do, and we're excited about what we're working on for 2022 and beyond," said Olivier Pomel, co-founder and CEO of Datadog.
Datadog said it expects first-quarter revenue to be between $334 million and $339 million versus the $306.6 million estimate. The company expects first-quarter earnings of 10 to 12 cents per share versus the 11 cent estimate.
Datadog is a cloud-native company that focuses on analyzing machine data.
From Last Week: What 9 Analyst Ratings Have To Say About Datadog
DDOG Price Action: Datadog has traded as low as $69.73 and as high as $199.67 over a 52-week period.
The stock was up 11.8% at $173.90 at time of publication.
Photo: courtesy of Datadog.
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