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Confluent (CFLT) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2023, Confluent (CFLT - Free Report) reported revenue of $189.29 million, up 35.8% over the same period last year. EPS came in at $0.00, compared to -$0.16 in the year-ago quarter.
The reported revenue represents a surprise of +3.90% over the Zacks Consensus Estimate of $182.18 million. With the consensus EPS estimate being -$0.06, the EPS surprise was +100.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Confluent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Customers with $100,000 or greater in annual recurring revenue (ARR): 1.14 compared to the 1.13 average estimate based on two analysts.
Remaining performance obligations (RPO): $791 million versus $788.69 million estimated by two analysts on average.
Revenue- Services: $12.80 million versus $13.85 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
Revenue- Subscription: $176.49 million versus the six-analyst average estimate of $168.25 million. The reported number represents a year-over-year change of +39%.
Revenue- Confluent Cloud: $83.58 million compared to the $81.46 million average estimate based on three analysts. The reported number represents a change of +77.8% year over year.
Shares of Confluent have returned -3% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Confluent (CFLT) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2023, Confluent (CFLT - Free Report) reported revenue of $189.29 million, up 35.8% over the same period last year. EPS came in at $0.00, compared to -$0.16 in the year-ago quarter.
The reported revenue represents a surprise of +3.90% over the Zacks Consensus Estimate of $182.18 million. With the consensus EPS estimate being -$0.06, the EPS surprise was +100.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Confluent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Customers with $100,000 or greater in annual recurring revenue (ARR): 1.14 compared to the 1.13 average estimate based on two analysts.
- Remaining performance obligations (RPO): $791 million versus $788.69 million estimated by two analysts on average.
- Revenue- Services: $12.80 million versus $13.85 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
- Revenue- Subscription: $176.49 million versus the six-analyst average estimate of $168.25 million. The reported number represents a year-over-year change of +39%.
- Revenue- Confluent Cloud: $83.58 million compared to the $81.46 million average estimate based on three analysts. The reported number represents a change of +77.8% year over year.
View all Key Company Metrics for Confluent here>>>Shares of Confluent have returned -3% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.