Why Confluent Shares Are Falling

Confluent Inc CFLT shares are trading lower by 9.3% at $66.38 Friday morning after the company reported fourth-quarter earnings results.

Confluent reported quarterly losses of 19 cents per share which beat the analyst consensus estimate of a loss of 21 cents per share. The company reported quarterly sales of $119.00 million which beat the analyst consensus estimate of $109.83 million by 8%.

"To compete in the modern world, organizations must harness the power of data that constantly flows throughout their business," said Jay Kreps, co-founder and CEO, Confluent.

"Our accelerating growth throughout the year, highlighted by a 200% increase in full year 2021 Confluent Cloud revenue at large scale, shows that Confluent has emerged as the leader of this large and growing market as organizations build toward a central nervous system for their data."
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Confluent has a 52-week high of $94.97 and a 52-week low of $37.71.