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MOUNTAIN VIEW, Calif. - Confluent , Inc. (NASDAQ:CFLT) reported better-than-expected first quarter results but saw its shares plunge 8% in after-hours trading Wednesday.
The data streaming platform provider posted adjusted earnings per share of $0.08, beating the consensus estimate of $0.07. Revenue for the quarter came in at $271.1 million, surpassing analysts’ projections of $264.46 million and representing a 25% YoY increase.
Subscription revenue, which makes up the bulk of Confluent’s top line, grew 26% YoY to $260.9 million. The company’s Confluent Cloud revenue saw even stronger growth, jumping 34% YoY to $143 million.
For Q2, the company expects subscription revenue between $267-$268 million, while for the full year 2025, it projects revenue of $1.10-$1.11 billion.
"We are pleased with our robust first quarter results, demonstrating the resilience of our business and our ability to capture our market opportunity," said Rohan Sivaram, CFO of Confluent. "These results underscore the strength of our data streaming platform, the strategic value of our multi-cloud, multi-data destination, and multi-deployment approach, as well as the flexibility of our well-diversified growth strategy."
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