Shares of JFrog (NASDAQ: FROG) charged sharply higher on Friday, surging as much as 15.9%.
ET, the stock was still up 7.3%. The catalyst that sent the continuous software release management (CSRM) specialist higher was its quarterly earnings report, which was far better than expected. Surprisingly robust result For the second quarter, JFrog generated revenue of $163.8 million, which climbed 29% year over year.
This resulted in adjusted earnings per share (EPS) of $0.27, up 50%. To put those numbers in context, analysts’ consensus estimates called for revenue of $155.64 million and EPS of $0.24, so Twilio exceeded both metrics with room to spare. Cloud revenue continued to dominate the conversation, growing 53% year over year to $87.5 million, now accounting for 53% of total revenue, up from 45% this time last year.