Datadog (DDOG) Exceeds Earnings Expectations, Despite Revenue Outlook and Presidential Resignation Shaking Investor Confidence

• Datadog (DDOG) has reported its Q1 earnings and revenue, surpassing estimates. However, the company’s stock fell following the announcement that Amit Agarwal will step down as president at the end of 2024.
• The New York-based software company’s earnings for the March quarter were 44 cents per share on an adjusted basis, a 29% increase from the previous year. Revenue also saw a 27% increase to $611 million.
• Despite these positive results, the company’s billings, a key sales growth metric, rose by 21% to $618 million, falling short of the estimated $623 million.

Datadog’s Q1 earnings and revenue surpass estimates, but stock falls as President Amit Agarwal announces 2024 departure. The company’s billings also missed consensus estimates.

Q1 Earnings and Revenue

Datadog’s earnings for the March quarter were 44 cents per share on an adjusted basis, a 29% increase from the previous year. The company’s revenue also saw a 27% increase to $611 million, slightly accelerating growth for a second consecutive quarter. These figures surpassed analysts’ expectations, which predicted a profit of 34 cents per share on revenue of $590 million.

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