The three companies are among the largest providers of cloud services in the world, and their second-quarter results suggest businesses are still investing heavily in digital technologies. DigitalOcean (NYSE: DOCN) serves small to mid-sized businesses, and its second-quarter results (reported on Aug. 8) revealed a growing customer base that is also spending an increasing amount of money. Cloud services continue to expand in value and in scope.
DigitalOcean's (DOCN) second-quarter 2022 results reflect the negative impacts of the Russia-Ukraine war and reduced expansion spend rate on the company's platform.
DigitalOcean Holdings, Inc. (DOCN) delivered earnings and revenue surprises of 100% and 0.29%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?