07:39 AM EDT, 05/07/2024 (MT Newswires) -- Datadog ( DDOG ) reported Q1 non-GAAP net income Tuesday of $0.44 per diluted share, up from $0.23 a year earlier.

Analysts polled by Capital IQ expected $0.34.

Revenue for the quarter ended March 31 was $611.3 million, compared with $481.7 million a year earlier.

Analysts polled by Capital IQ expected $591.7 million.

The company said it expects Q2 non-GAAP net income of $0.34 to $0.36 per share on revenue ranging from $620 million to $624 million. Analysts polled by Capital IQ expect $0.35 in non-GAAP EPS on revenue of $619.9 million.

For the full year, Datadog ( DDOG ) now expects $1.51 to $1.57 in non-GAAP net income, from the previous range of $1.38 to $1.44, and $2.59 billion to $2.61 billion in revenue, from its previous estimate of about $2.56 billion to $2.58 billion. Analysts polled by Capital IQ expect $1.49 in non-GAAP EPS on revenue of $2.59 billion.

Datadog ( DDOG ) shares were down more than 10% in recent premarket activity Tuesday.

Price: 113.50, Change: -13.47, Percent Change: -10.61