Confluent’s (CFLT) shares surged more than 14% after the closing bell Wednesday following the company’s better-than-expected Q4 results.
Earnings per share (EPS) stood at $0.09, surpassing analysts' expectations of $0.05. The company's revenue for the quarter was $213 million, also ahead of the consensus estimate of $205.35 million.
For the first quarter, Confluent expects total revenue to be between $211 million and $212 million, closely aligning with the estimate of $211.2 million. The projected adjusted EPS ranges from 0 to 2 cents, short of the consensus estimate of 2.3 cents.
Looking ahead to the full year, the software company anticipates total revenue to be around $950 million, better than the estimated $936.1 million. However, the company's forecast for adjusted EPS stands at approximately 17 cents, slightly below the estimated 18 cents.
“Confluent closed fiscal year 2023 on a high note, delivering our first $100 million quarter in Confluent Cloud revenue, representing growth of 46% year over year, and growing subscription revenue by 31% year over year,” said Jay Kreps, co-founder and CEO, Confluent.
“Our momentum is driven by our leadership of the data streaming platform category, which has become a requirement to deliver business critical use cases like connected customer experiences, cloud migrations and now real time generative AI.”