DigitalOcean reports Q2 EPS 48c, consensus 39c

Reports Q2 revenue $192M, consensus $188.6M. Annual Run-Rate Revenue ended the quarter at $781 million, an increase of 15% year-over-year. “We have delivered another strong quarter of business results and exciting product announcements. In Q2 we saw revenue growth continue to re-accelerate at 13%, with AI/ML continuing to accelerate with ARR up over 200% year-over-year, and expanded our leadership team by adding a Chief Product and Technology Officer to accelerate innovation, a Chief Ecosystem and Growth Officer to drive growth and engagement within our developer community and a Chief Revenue Officer to fortify our go-to-market functions,” said Paddy Srinivasan, CEO of DigitalOcean. “With our new leadership team in place and accelerating product innovation, we continue to execute on our mission of providing cloud computing to growing technology companies as well as pursue our AI strategy of democratizing access to GPU Infrastructure and a compelling platform to simplify building and consuming AI.”