DigitalOcean Reports $192 Million Revenue, $0.20 EPS; Shares Up 4% After Q2 Earnings; Doximity Sees 21% Rise

DigitalOcean Holdings reported a revenue of $192 million for the second quarter of fiscal 2024, marking a 13% increase year-over-year. The company achieved a diluted net income per share of $0.20, with a non-GAAP diluted net income per share of $0.48. Net income attributable to common stockholders was $19 million, resulting in a net income margin of 10%. Following the announcement, shares of DigitalOcean rose by 4% in after-hours trading. In a separate announcement, Doximity reported strong profits and record engagement for the same quarter, with shares increasing by 21% in after-hours trading. Doximity's performance exceeded expectations on both the revenue and earnings fronts.