Shares of Datadog (NASDAQ: DDOG) charged sharply higher Thursday morning, surging as much as 6.1%. As of 1:31 p.m. ET, the stock was up 2.1%, even as the broader market indexes slumped.

The catalyst that drove the cloud monitoring and security company higher was third-quarter financial results that far exceeded expectations.

Datadog generated revenue of $437 million, up 61% year over year, on top of 75% growth in the prior-year quarter. At the same time, the company delivered adjusted earnings per share (EPS) of $0.23, which surged 77%.

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Source Fool.com