Why DigitalOcean Stock Popped Today
DigitalOcean (NYSE: DOCN) stock surged more than 20% at the open Tuesday morning after the company delivered fourth-quarter results that beat analysts' forecasts. It remained up by 12.6% as of 10:50 a.m. ET.
Heading into the Q4 report, analysts expected the on-demand cloud infrastructure and platform tools provider to earn $0.34 per share on sales of $200.5 million. In fact, DigitalOcean earned $0.49 per share for the quarter, and on sales that approached $205 million.
Sales were up by 13% year over year, which maintained the 13% rate of growth the company achieved earlier in the year. Management noted its annual run-rate revenue was also up 13% -- pointing toward continued strong growth in 2025.
Source Fool.com
