Why Datadog Was a Dog of a Stock on Thursday
Datadog (NASDAQ: DDOG) wasn't a favorite stock market pet among investors on Thursday. The company's shares fell by nearly 2% on the day, versus only a slight decline of the broad S&P 500 index. While Datadog notched a pair of beats in its freshly released quarterly results, investors were nevertheless unimpressed. The lack of detail about a new acquisition also may have played a role in the decline.
For its second quarter, Datadog's revenue tallied just over $406 million, representing considerable year-over-year improvement of 74%. Even better, non-GAAP (adjusted) net income more than doubled, advancing from the second-quarter 2021 result of $32 million to the current period's nearly $84 million ($0.27 per share).
Those numbers were more than good enough to trump analyst estimates. On average, prognosticators following the stock were modeling less than $382 million for revenue and adjusted net income of $0.15 per share.
Source Fool.com
