For the quarter ended June 2024, Confluent reported revenue of $234.99 million, up 24.1% over the same period last year. EPS came in at $0.06, compared to $0.00 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $229.49 million, representing a surprise of +2.39%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being $0.05.
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:
Remaining performance obligations (RPO)
: $887.80 million compared to the $904.56 million average estimate based on three analysts.Customers with $100,000 or greater in annual recurring revenue (ARR)
: 1 compared to the 1 average estimate based on two analysts.Revenue- Services
: $10.28 million compared to the $11.73 million average estimate based on eight analysts. The reported number represents a change of -19.6% year over year.Revenue- Subscription
: $224.70 million versus the eight-analyst average estimate of $217.75 million. The reported number represents a year-over-year change of +27.3%.Revenue- Confluent Cloud
: $117 million compared to the $115.48 million average estimate based on four analysts. The reported number represents a change of +40% year over year.
View all Key Company Metrics for Confluent here>>>Shares of Confluent have returned -16.5% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
View the Zacks #1 Rank List
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Compared to Estimates, Confluent (CFLT) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Confluent reported revenue of $234.99 million, up 24.1% over the same period last year. EPS came in at $0.06, compared to $0.00 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $229.49 million, representing a surprise of +2.39%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being $0.05.
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:
View all Key Company Metrics for Confluent here>>>Remaining performance obligations (RPO)
: $887.80 million compared to the $904.56 million average estimate based on three analysts.Customers with $100,000 or greater in annual recurring revenue (ARR)
: 1 compared to the 1 average estimate based on two analysts.Revenue- Services
: $10.28 million compared to the $11.73 million average estimate based on eight analysts. The reported number represents a change of -19.6% year over year.Revenue- Subscription
: $224.70 million versus the eight-analyst average estimate of $217.75 million. The reported number represents a year-over-year change of +27.3%.Revenue- Confluent Cloud
: $117 million compared to the $115.48 million average estimate based on four analysts. The reported number represents a change of +40% year over year.Shares of Confluent have returned -16.5% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.