Confluent (CFLT) To Report Earnings Tomorrow – Here’s What You Can Expect
Data infrastructure software company Confluent (NASDAQ:CFLT) will report results tomorrow after market hours. Here’s what investors need to know.
Last quarter, Confluent reported revenue of $189.3 million, up 35.8% year-over-year, beating analysts’ revenue expectations by 3.75%. It was a decent quarter for the company, with better quarterly revenue and RPO (remaining performance obligations, a leading revenue indicator). Forward guidance was also bullish, with non-GAAP operating profit guidance for the next quarter and full year particularly impressive compared to Wall Street expectations. The company added 69 enterprise customers paying more than $100,000 a year to a total of 1,144.
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This quarter, analysts expect Confluent’s revenue to grow 28.6% year-over-year to $195.2 million, slowing from the 47.9% year-over-year increase in revenue the company had posted in the same quarter last year. The adjusted loss is expected to be -$0.01 per share.
Most analysts covering the company have reconfirmed their estimates over the past thirty days, suggesting they expect the business to stay the course heading into earnings. The company has a track record of beating Wall St expectations, beating revenue estimates each time over the past two years on average by 6.22%.
With Confluent being the first among its peers to report earnings this season, we have nowhere else to look to get a sense of how this quarter will play out for data and analytics software stocks, but the entire sector has seen very affected. fears of higher interest rates, with stocks falling an average of 8.09% over the past month. Confluent is down 6.48% over the same time and is headed for earnings with an analyst price target of $38.2, compared to the stock price of $27.7.
The author has no position in any of the stocks mentioned.
