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CFLT - Why Confluent Stock Blasted Higher on Thursday
Confluent Inc.
2024-02-08 12:15:42 ET
Shares of Confluent (NASDAQ: CFLT) charged sharply higher on Thursday, soaring as much as 35.4%. As of 10:56 a.m. ET, the stock was still up 30.7%.
The catalyst that sent the data streaming and cloud operator surging was its quarterly financial report, which was far better than many had feared.
For the fourth quarter, Confluent generated revenue of $213 million, up 26% year over year, driven higher by subscription revenue that climbed 31%. This resulted in adjusted earnings per share (EPS) of $0.09.