2023-05-12 05:25:00 ET
DigitalOcean Holdings (NYSE: DOCN) stock moved slightly higher in Tuesday trading after it announced earnings for the first quarter of 2023. The company's revenue growth remains solid, and it continues to report a positive adjusted net income.
However, a look at the income statement for the cloud services provider shows something surprising -- operating losses. That could leave investors questioning whether those losses are a reason to avoid the company.
Even with the operating loss, DigitalOcean continues to post respectable growth numbers. In Q1, revenue came in at $165 million, a 30% increase, compared with the year-ago quarter.
For further details see:
Why DigitalOcean Is in Better Shape Than Many Think