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Confluent (CFLT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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Confluent (CFLT - Free Report) reported $217.24 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 24.6%. EPS of $0.05 for the same period compares to -$0.09 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $211.57 million, representing a surprise of +2.68%. The company delivered an EPS surprise of +150.00%, with the consensus EPS estimate being $0.02.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 versus the two-analyst average estimate of 1.
Revenue- Services: $10.34 million compared to the $11.78 million average estimate based on seven analysts. The reported number represents a change of -24.8% year over year.
Revenue- Subscription: $206.90 million versus the seven-analyst average estimate of $199.79 million. The reported number represents a year-over-year change of +28.9%.
Revenue- Confluent Cloud: $107 million versus $105 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +45.3% change.
Shares of Confluent have returned -4.9% over the past month versus the Zacks S&P 500 composite's -0.4% 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) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Confluent (CFLT - Free Report) reported $217.24 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 24.6%. EPS of $0.05 for the same period compares to -$0.09 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $211.57 million, representing a surprise of +2.68%. The company delivered an EPS surprise of +150.00%, with the consensus EPS estimate being $0.02.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 versus the two-analyst average estimate of 1.
- Revenue- Services: $10.34 million compared to the $11.78 million average estimate based on seven analysts. The reported number represents a change of -24.8% year over year.
- Revenue- Subscription: $206.90 million versus the seven-analyst average estimate of $199.79 million. The reported number represents a year-over-year change of +28.9%.
- Revenue- Confluent Cloud: $107 million versus $105 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +45.3% change.
View all Key Company Metrics for Confluent here>>>Shares of Confluent have returned -4.9% over the past month versus the Zacks S&P 500 composite's -0.4% 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.