Datadog Stock Tumbles Despite Earnings Beat
Datadog reported fourth-quarter earnings and revenue that exceeded expectations, but its 2024 guidance fell short, causing DDOG stock to initially drop 9%. The enterprise software maker's earnings were 44 cents per share on revenue of $589.6 million, surpassing analyst estimates. However, its 2024 profit forecast of $1.41 per share and revenue outlook of $2.565 billion missed Wall Street expectations. Despite the tumble, DDOG stock has shown strong performance in 2024 and over the past year, with an upcoming investor day scheduled for February 15.