01:37 PM EDT, 05/01/2025 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Confluent's (CFLT) shares were down nearly 18% in recent Thursday trading, a day after the company reported Q1 non-GAAP net income of $0.08 per diluted share, up from $0.05 a year earlier.

Analysts polled by FactSet expected $0.07.

Revenue for the quarter ended March 31 was $271.1 million, up from $217.2 million a year earlier. Analysts surveyed by FactSet expected $264.4 million.

For Q2, the IT services provider expects non-GAAP net income of $0.08 to $0.09 per share. Analysts polled by FactSet expect $0.08.

For 2025, the company increased its non-GAAP net income outlook to about $0.36 per share, up from around $0.35 previously expected. Analysts polled by FactSet expect $0.36.

Price: 19.54, Change: -4.28, Percent Change: -17.95