Benzinga | May 7, 2021 08:50AM EDT

DDOG Shares Are Trading Higher On Q1 Earnings Beat, Robust Guidance

* Datadog Inc (NASDAQ: DDOG) reported first-quarter FY21 revenue growth of 51% year-on-year to $198.5 million, beating the analyst consensus of $186.71 million. Customers with an ARR of $100,000 or more rose 50% to 1,437.

* Non-GAAP operating income and margin were $19.6 million and 10%.

* Non-GAAP EPS of $0.06 beat the analyst consensus of $0.03.

* Datadog held $1.6 billion in cash and equivalents and generated $51.7 million in operating cash flow.

* Guidance: Datadog sees a Q2 revenue outlook of $211 million - $213 million, above the analyst consensus of $196.6 million, and adjusted EPS outlook of $0.03 - $0.04, compared to the analyst consensus of $0.03.

* For FY21, it sees a revenue outlook of $880 million - $890 million, above the analyst consensus of $833.73 million, and adjusted EPS of $0.13 - $0.16, compared to analyst consensus of $0.14.

* CEO Olivier Pomel believed that Datadog was well equipped to benefit from the growing digitization trend of companies as the most complete and cloud-native end-to-end observability platform.

* Price action: DDOG shares traded higher by 9.71% at $78.29 in the premarket session on the last check Friday.