Shares of Datadog Inc. DDOG were rising nearly 5% in premarket trading Thursday after the company, which makes monitoring software for cloud applications, topped expectations with its first-quarter earnings and revenue. The company recorded a net loss of $24.1 million, or 8 cents a share, whereas it posted net income of $9.7 million, or 3 cents a share, in the year-before quarter. On an adjusted basis, Datadog earned 28 cents a share, while analysts tracked by FactSet had been expecting 23 cents a share. Revenue rose to $481.7 million from $363.0 million, while analysts were projecting $469.8 million. For the second quarter, Datadog expects $498 million to $502 million in revenue, as well as adjusted earnings per share of 27 cents to 29 cents. The FactSet consensus was for $502 million in revenue and 26 cents in adjusted EPS.
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