DigitalOcean Holdings (NYSE:DOCN) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$198.5m (up 12% from 3Q 2023).

• Net income: US$32.9m (up 72% from 3Q 2023).

• Profit margin: 17% (up from 11% in 3Q 2023).

• EPS: US$0.36 (up from US$0.22 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

DigitalOcean Holdings EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 119%.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are down 14% from a week ago.

Risk Analysis

It is worth noting though that we have found 4 warning signs for DigitalOcean Holdings (2 don't sit too well with us!) that you need to take into consideration.

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