Why DigitalOcean (DOCN) Stock Is Up Today
Shares of cloud computing provider DigitalOcean (NYSE: DOCN) jumped 21% in the pre-market session after the company reported strong fourth-quarter 2024 results, surpassing analysts' expectations for revenue, EPS, and EBITDA. Revenue grew 13% y/y, driven by a sharp rise in spending from its top-tier customers, whose contribution to overall revenue jumped 37%. Additionally, full-year EPS guidance came in above Wall Street estimates. Overall, we think this was still a solid quarter with some key ar