04:27 PM EDT, 05/07/2024 (MT Newswires) -- Confluent (CFLT) reported Q1 non-GAAP earnings Tuesday of $0.05 per diluted share, swinging from a loss of $0.09 a year earlier.

Analysts surveyed by Capital IQ expected EPS of $0.02 normalized.

Revenue in the quarter ended March 31 rose to $217.2 million from $174.3 million a year earlier. Analysts surveyed by Capital IQ expected $211.8 million.

The company said it expects non-GAAP diluted results of 0.04 to $0.05 a share in Q2 and raised its 2024 EPS outlook to between $0.19 and $0.20 per share from $0.17. Analysts polled by Capital IQ expect EPS of $0.04 in Q2 and $0.17 in 2024.

The company expects revenue of $229 million to $230 million in Q2 and increased 2024 revenue estimates to about $957 million from the previous outlook of about $950 million. Analysts surveyed by Capital IQ are looking for $228.7 million in Q2 and $950.2 million in 2024.

Confluent shares jumped 8.3% in after-hours activity.

Price: 30.15, Change: +2.32, Percent Change: +8.34