Confluent Inc reports results for the quarter ended in June - Earnings Summary

Confluent

31/07/2024 22:03

* Confluent Inc  CFLT.OQ  reported quarterly adjusted
earnings of
6 cents​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported breakeven
earnings per share.  The mean expectation of twenty
nine analysts for the quarter was for earnings of 5 cents per
share. Wall Street expected results to range from 4 cents to 7
cents per share.
    * Revenue rose 24.1% to $234.99 million from a year ago;
analysts
expected $229.96 million. 
    * Confluent Inc's reported EPS for the quarter was a loss
of 28
cents​.
    * The company reported a quarterly loss of $89.9 million.
    * Confluent Inc shares had fallen by 17.7% this quarter and
gained 3.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 25.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 23 "strong buy" or "buy," 7
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "buy"

Wall Street's median 12-month price target for Confluent Inc is
$35.00 
This summary was machine generated from LSEG data July 31 at
09:02 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.05           0.06           Beat
 Mar. 31 2024      0.02           0.05           Beat
 Dec. 31 2023      0.05           0.09           Beat
 Sep. 30 2023      0.00           0.02           Beat