07:52 AM EDT, 05/10/2024 (MT Newswires) -- DigitalOcean Holdings ( DOCN ) reported Q1 non-GAAP earnings Friday of $0.43 per diluted share, up from $0.28 a year earlier.

Analysts polled by Capital IQ expected $0.38.

Revenue for the quarter ended March 31 was $184.7 million, compared with $165.1 million a year earlier.

Analysts surveyed by Capital IQ expected $182.6 million.

The company said it expects Q2 and fiscal 2024 non-GAAP earnings of $0.38 to $0.40 per diluted share and $1.60 to $1.67 per diluted share, respectively. Analysts polled by Capital IQ expect $0.39 and $1.62, respectively.

DigitalOcean ( DOCN ) also said it expects revenue for the quarter and full year of $188 million to $189 million and $760 million to $775 million, respectively. Analysts surveyed by Capital IQ expect $187.1 million and $767.3 million, respectively.

The company's shares were up over 4% in recent Friday premarket activity.

Price: 34.00, Change: +1.42, Percent Change: +4.36