China · Crypto Briefing
DigitalOcean posts $321 million Q3 revenue, up 40% as AI demand accelerates
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The cloud provider beat estimates, raised its outlook, and reported AI customer ARR of $376 million.
Key facts
- Following the report, DOCN shares were trading around $89-$91, giving the company a market capitalization of approximately $10.5 billion
- DigitalOcean reported third-quarter revenue of $321 million, a 40% jump from a year earlier
- The cloud provider beat estimates, raised its outlook, and reported AI customer ARR of $376 million
- DigitalOcean added a record $160 million in incremental ARR during the third quarter
Summary
DigitalOcean reported third-quarter revenue of $321 million, a 40% jump from a year earlier. According to the company’s results, it is DigitalOcean’s fastest expansion in a decade. DigitalOcean added a record $160 million in incremental ARR during the third quarter. Through the first nine months of the year, DigitalOcean has booked $860 million in revenue.