Confluent (CFLT) Post Market $30.50 up 8%.
Confluent delivered better-than-expected results for the March quarter, with beats on revenue and adjusted earnings.
Adjusted Earnings came in at $0.05 per share against the $0.02 estimated and revenue at $217 v $211 expected.
Guidance was raised slightly in Q2 and FY 2024 as under:
Adjusted earnings – $0.04 to $0.05 V consensus of $0.04
Revenue $229-$230 v $229.3 expected. Growth 21.5%
EPS $0.19 to $0.20 v $0.18 consensus estimates
$957Mn revenue V $ 952.8 estimated – Growth of 23%
Confluent is swinging from adjusted losses into positive territory as promised to investors, though still far from GAAP profits, which would take at least two years.
Growth momentum remains, and I last accumulated at $28-29, which I plan to continue doing.
Will update further after the call.