DigitalOcean Stock Surges on Strong Q2 Earnings and AI-Driven Growth
DigitalOcean's stock soared 28.8% in Tuesday's trading, defying broader market declines, after reporting Q2 earnings that surpassed analyst expectations. The cloud services provider posted $0.59 EPS on $218.7 million revenue—$0.12 and $2.1 million above consensus, respectively. AI and machine learning services more than doubled year-over-year, fueling the outperformance.
Management raised full-year guidance, projecting Q3 revenue between $226-$227 million, a 14% midpoint growth rate. The results signal accelerating enterprise adoption of cloud infrastructure for AI workloads, though no direct cryptocurrency exposure was noted in the report. Market reaction reflects growing investor appetite for tech-enabled infrastructure plays amid the AI boom.
