Benzinga - by Adam Eckert, Benzinga Staff Writer.
Confluent Inc (NASDAQ:CFLT) shares are trading higher in Wednesday’s after-hours session on the heels of the company’s fourth-quarter results. Here’s a rundown of the report.
- Q4 Revenue: $213.18 million, beat estimates of $205.26 million
- Q4 Adjusted EPS: 9 cents, beat estimates of 5 cents
“Our momentum is driven by our leadership of the data streaming platform category, which has become a requirement to deliver business critical use cases like connected customer experiences, cloud migrations and now real time generative AI,” said Jay Kreps, co-founder and CEO of Confluent.
Outlook: Confluent expects first-quarter revenue to be between $211 million and $212 million. Subscription revenues are expected to be between $199 million and $200 million. The company guided for adjusted operating margin of negative 4% in the first quarter. Confluent expects adjusted net income per share of zero to 2 cents in the first quarter.
Confluent sees full-year 2024 revenue of approximately $950 million. Adjusted operating margin is expected to be approximately flat. The company anticipates full-year net income of approximately 17 cents per share.
A conference call to discuss these results kicked off at 4:30 p.m. ET.
CFLT price Action: Confluent shares were up 15.9% after hours at $28.16 at the time of publication, according to Benzinga Pro.
Photo: 3844328 from Pixabay.
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