DigitalOcean reports Q4 EPS 28c, consensus 20c

Reports Q4 revenue $163M, consensus $161.09M.Annual Run-Rate Revenue ARR ended the quarter at $658.8 million, representing 34% year-over-year growth. "Despite multiple headwinds in 2022, we delivered strong revenue growth, with significant increases in free cash flow margin," said Yancey Spruill, CEO of DigitalOcean. "We broadened our product portfolio and addressable market with the Cloudways acquisition. For 2023, our focus is to deliver on our growth initiatives, utilize the restructuring to accelerate free cash flow margins to 20% or better and increase our share buyback program by up to $500 million."