DigitalOcean Holdings Inc reports results for the quarter ended June 30 - Earnings Summary

• DigitalOcean Holdings Inc DOCN reported quarterly adjusted earnings of 59 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 48 cents. The mean expectation of thirteen analysts for the quarter was for earnings of 47 cents per share. Wall Street expected results to range from 44 cents to 54 cents per share.

• Revenue rose 13.6% to $218.70 million from a year ago; analysts expected $216.61 million.

• DigitalOcean Holdings Inc's reported EPS for the quarter was 39 cents​.

• The company reported quarterly net income of $37.03 million.

• DigitalOcean Holdings Inc shares had fallen by 5.4% this quarter and lost 20.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.4% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 5 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the it services & consulting peer group is also "buy"

• Wall Street's median 12-month price target for DigitalOcean Holdings Inc is $37.50, about 28% above its last closing price of $27.01

This summary was machine generated from LSEG data August 5 at 01:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)