Shares of (NASDAQ: DDOG) charged sharply higher Thursday, surging as much as 16.5%. As of 11:43 a.m. ET, the stock was still up 16.1%.

What sent the cloud monitoring, analytics, and security company higher were results that suggested the sky was not falling.

For the first quarter, Datadog reported revenue of $481.7 million, up 33% year over year, resulting in non-GAAP (generally accepted accounting principles) earnings per share (EPS) of $0.28. Analysts' consensus estimates were calling for $469.8 million and EPS of $0.23, so Datadog exceeded expectations by a wide margin.

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Source Fool.com