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Confluent’s Stock Rises On Solid Earnings with Cloud Revenue Growth

By ET Bureau - November 03, 2022 1 Mins Read

Big-data company Confluent Inc.’s stock made sharp gains in extended trading after it posted third-quarter earnings and revenue that beat expectations.

Additionally, it gave positive guidance for the following quarter. On revenues of USD 151.7 million in the quarter, an impressive 48% increase from the same period the previous year, the company reported a loss before certain costs, such as stock compensation, of 13 cents per share. The outcomes significantly exceeded Wall Street’s predictions. Analysts expected the business to report a larger loss of 17 cents per share on revenue of only USD 144.4 million.

Confluent reported a net loss of USD 116 million overall for the quarter, up from the loss of USD 96.5 million it had previously reported.

Also Read: Top Migration Mistakes that can Derail Cloud Implementation

Read More: Confluent’s stock rises on solid earnings beat and impressive cloud revenue growth

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ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

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