Shares of Datadog Inc.
were falling 7% in after-hours trading Thursday after the company topped expectations with its fourth-quarter earnings and revenue but trailed the consensus view with its full-year forecast. The company, which runs a software platform with monitoring capabilities, logged a net loss of $29.0 million, or 9 cents a share, whereas it posted net income of $7.2 million, or 2 cents a share, in the year-earlier period. After adjustments, Datadog earned 26 cents a share, whereas analysts tracked by FactSet were modeling 19 cents a share. Revenue increased to $469.4 million from $326.2 million, while the FactSet consensus was for $450.2 million. For the first quarter, Datadog projects $466 million to $470 million in revenue, along with 22 cents to 24 cents in adjusted earnings per share. The FactSet consensus calls for $484 million in revenue and 24 cents in adjusted EPS. For the full year, Datadog anticipates $2.07 billion to $2.09 billion in revenue and $1.02 to $1.09 in adjusted EPS, whereas analysts were modeling $2.19 billion in revenue and $1.12 in adjusted EPS.