from24/7 Wall St.
1 week agoDigitalOcean Ends Win Streak on Q3 Earnings Miss
What makes the miss particularly jarring is the underlying business strength visible through June. Revenue reached $218.7 million in Q2, up 13.6% year over year. Net income hit $37.0 million with a 15.2% profit margin. Operating margin stood at a healthy 16.3%. The company was printing money. Something shifted between the end of Q2 and the close of Q3, but management commentary on the miss has not yet been fully detailed.
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