DigitalOcean (DOCN) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - DigitalOcean Holdings, Inc. (DOCN) reported revenue of $192.48 million for the quarter ended June 2024, reflecting a year-over-year increase of 13.4% [1] - The earnings per share (EPS) for the quarter was$ 0.48, up from $0.44 in the same quarter last year, exceeding the consensus estimate of$ 0.39 by 23.08% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $188.64 million, resulting in a surprise of 2.04% [1] Key Performance Metrics - Total Customers: 638,000, slightly below the estimated 638,530 [3] - Net Dollar Retention Rate: 97%, lower than the estimated 98% [4] - Average Revenue Per Customer (ARPU):$ 99.45, exceeding the estimated $97.11 [5] Stock Performance - DigitalOcean's shares have declined by 11.7% over the past month, compared to a 6.5% decline in the Zacks S&P 500 composite [5] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [5]