DigitalOcean reports Q2 EPS 59c, consensus 47c

Reports Q2 revenue $218.7M, consensus $212.62M. “We delivered another quarter of solid performance across both AI and core cloud. Total revenue grew 14% year-over-year, we achieved the highest incremental ARR since Q4 of 2022, and we more than doubled our AI/ML revenue year-over-year.” said Paddy Srinivasan, CEO of DigitalOcean (DOCN). “Our strategic focus on higher spending digital native enterprises and key strategic partners drove Scalers+ revenue up 35% year-over-year, reaching 24% of total revenue. We also continue to effectively balance higher growth and attractive free cash flow margins, which is reflected in our increased guidance on both full year revenue and profitability metrics.”