Confluent, Inc. (CFLT) Q2 2024 Earnings Call Transcript
Confluent, Inc. (NASDAQ:CFLT ) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants Shane Xie - Investor Relations Jay Kreps - Co-Founder & Chief Executive Officer Rohan Sivaram - Chief Financial Officer Conference Call Participants Matt Hedberg - RBC Sanjit Singh - Morgan Stanley Raimo Lenschow - Barclays Brad Zelnick - Deutsche Jason Ader - William Blair Derrick Wood - TD Cowen Rudy Kessinger - D.A. Davidson Alex Zukin - Wolfe Research Kash Rangan - Goldman Sachs Pinjalim Bora - JPMorgan Ittai Kidron - Oppenheimer Gregg Moskowitz - Mizuho Mike Cikos - Needham Michael Turrin - Wells Fargo Shane Xie Hello, everyone.
Compared to Estimates, Confluent (CFLT) Q2 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Confluent (CFLT) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Confluent (CFLT) Q2 Earnings and Revenues Surpass Estimates
Confluent (CFLT) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to break-even earnings per share a year ago.
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Confluent: Resilient Consumption Trends Amidst Broader Software Slowdown
Confluent started the year right, with better-than-expected topline metrics and lower-than-expected operating loss. There was stabilization in the cloud consumption trend in the quarter, and Confluent saw net-new use cases in the broader customer base, including with the digital native customers. The company saw early signs of success from its cloud go-to-market transformation and added 160 new customers in Q1.
