TECH - Why Datadog Stock Tanked After Q1 Earnings? | Benzinga
Datadog, Inc (NASDAQ:DDOG) stock dropped after it reported its quarterly results on Tuesday.
The company clocked fiscal first-quarter revenue growth of 27% year-on-year to $611.3 million, beating the analyst consensus estimate of $591.3 million.
Adjusted EPS of $0.44 beat the analyst consensus estimate of $0.35.
As of March 31, 2024, Datadog had 3,340 customers with an ARR of $100,000 or more, increasing 15% Y/Y.
The adjusted gross margin expanded by 300 bps to 83%. The adjusted operating margin increased by 900 bps to 27%.
Datadog held cash and equivalents of $2.8 billion as of March ...