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Why Confluent Stock Is Climbing Higher Today

TheMotleyFool

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Why Confluent Stock Is Climbing Higher Today: https://g.foolcdn.com/editorial/images/730985/gettyimages-1313939390.jpg

Shares of Confluent (NASDAQ: CFLT), a data streaming company, were rising fast today after the company reported better-than-expected results for its first quarter and issued strong guidance for the full year.

The tech stock was up by 12.7% as of 11:36 a.m. ET.

Confluent's sales rose 38% in the first quarter to $174 million, which was higher than Wall Street's consensus estimate of $167 million for the quarter. Additionally, the company's non-GAAP (adjusted) loss of $0.09 was better than analysts' average estimate of a loss of $0.14 per share.

Source Fool.com

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