Datadog, Inc. (NASDAQ:DDOG) shares jumped more than 14% on Thursday after the company beat the Street expectations for Q1 earnings. EPS was $0.28, compared to the Street estimate of $0.24. Revenue came in at $482 million, compared to the Street’s $470.46 million estimate.
New logo bookings were a Q1 record as the company continues to add customers albeit at a slightly slower rate. However, guidance remains cautious assuming a continuation of optimization trends through year-end, but with increased leverage.
For Q2/23, the company anticipates EPS in the range of $0.27-$0.29, compared to the Street’s $0.26, and revenue in the range of $498-502 million, compared to the Street’s $500.7 million.
For the full year, the company sees EPS at $1.13-$1.20, compared to the Street’s $1.08, and revenue at $2.08-2.1 billion, compared to the Street’s $2.09 billion.