Advertisement
Australia markets open in 5 hours 29 minutes

  • ALL ORDS

    8,082.30
    -67.80 (-0.83%)
     

  • AUD/USD

    0.6695
    +0.0015 (+0.22%)
     

  • ASX 200

    7,814.40
    -66.90 (-0.85%)
     

  • OIL

    80.00
    +0.77 (+0.97%)
     

  • GOLD

    2,419.80
    +34.30 (+1.44%)
     

  • Bitcoin AUD

    99,413.73
    -289.20 (-0.29%)
     

  • CMC Crypto 200

    1,361.13
    -12.71 (-0.92%)
     

Confluent (CFLT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Confluent (CFLT) 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.

ADVERTISEMENT

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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Confluent, Inc. (CFLT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research