Confluent Inc. reported solid financial results and strong guidance for the current quarter, leading to a stock increase of over 14% in extended trading.
In the fourth quarter, Confluent's revenue rose 23% to $261.2 million, surpassing the analysts' target of $256.8 million.
Confluent's cloud-based offering, Confluent Cloud, saw a 38% increase in sales, reaching $138 million during the quarter.
The company announced a partnership with Databricks to enable real-time data integration, aiming to tackle the challenge of combining real-time data and analytics tools.