DigitalOcean Reports Strong Q2 2024 Results with 13% Revenue Growth
📅 - Global cloud hosting provider DigitalOcean has reported its financial results for the second quarter ended June 30, 2024, showing robust growth and strategic progress underscoring continued momentum in the tech industry. The company's second quarter performance reflects a focused effort to expand product offerings and drive growth, particularly in the AI and ML space.
In a statement accompanying the announcement of results, DigitalOcean CEO Paddy Srinivasan highlighted the company's successful quarter, with revenue growth of 13% year over year. He highlighted significant progress in AI/ML, with the company's Annual Run-Rate Revenue (ARR) in this area increasing by more than 200% from the [...][... Check source for end of article ...]
Tags: Cloud Hosting
Reads: 169 | Category: General | Source: Hosting Jurnalist : Hosting Jurnalist | Author: URL source: https://hostingjournalist.com/news/digitalocean-reports-strong-q2-2024-results-with-13-revenue-growth
Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!
Related news
📅 - DigitalOcean Launches Cloudways Copilot to Cut Server Issue Resolution Time - Cloudways Copilot, driven by artificial intelligence (AI), is now generally available. Cloudways is a division of DigitalOcean Holdings. Customers used to have to spend between thirty and forty minutes troubleshooting before contacting Cloudways' human support team to fix problems.
End users face downtime as a result of website breakdowns, which usually take teams hours to fix. Website performance is crucial to the customer experience. Technical in-house teams must spend several minutes resolving these crashes, which damages business and consumer trust. According to studies, the average cost of downtime can range from $5,600 to almost $9,000 per minute1.
Instead of sending out a reactive [...]
📅 - Flexential Backs DigitalOceans GPU Expansion - Flexential has announced a partnership with DigitalOcean to support a high-density deployment at its Atlanta-Douglasville 1 data center, expanding GPU capabilities for AI and high-performance computing workloads. This collaboration aims to enhance DigitalOcean's GPU Droplets, leveraging AMD Instinct GPU accelerators and NVIDIA H200 GPUs to provide scalable computing power for AI/ML training, deep learning, data analytics, and graphics processing.
The deployment will be executed in phases, integrating GPU resources across two interconnected data halls. The initiative is designed to meet the growing demand for AI computing power, allowing DigitalOcean to rapidly scale its GPU [...]
📅 - DigitalOcean Expands Hatch Program with New AI & ML Startup Benefits - DigitalOcean, delivering scalable cloud services for growing tech firms, has announced an expanded set of benefits for its Hatch program, aimed at equipping startups with the tools and support they need to turn innovative ideas into scalable businesses. The program, initially launched in 2016, has supported hundreds of startups, including notable alumni such as Hugging Face, Vuukle, OneText, and Aiven.
The new perks, tailored for startups working on cutting-edge artificial intelligence (AI) and machine learning (ML) projects, would highlight DigitalOceans commitment to fostering early-stage innovation.
Paddy Srinivasan, CEO of DigitalOcean, emphasized the importance of these [...]
📅 - AI-Driven Hosting Solutions for SMBs Released by Cloudways - Cloudways, a division of DigitalOcean providing scalable cloud solutions to growing tech companies, has announced the launch of Cloudways Copilot, a suite of AI-powered tools designed to revolutionize managed hosting for small and medium-sized businesses (SMBs). The initiative debuts with AI-powered issue diagnostics, currently in public preview.
The new platform aims to address a critical challenge for SMBs: ensuring website reliability and performance. Research shows that websites loading in under a second can achieve conversion rates up to three times higher than those taking five seconds or more. By leveraging AI, Cloudways Copilot helps businesses identify, diagnose, and resolve [...]
📅 - DigitalOcean Posts Strong Q3 Growth, Boosting AI and Cloud Innovation - DigitalOceans Q3 2024 financial results highlight a period of impressive growth and strategic expansion, with revenue climbing 12% year-over-year to reach $198 million. Alongside this financial momentum, the cloud provider for developers reported a 12% increase in Annual Run-Rate Revenue (ARR), now totaling $798 million.
Gross profit rose to $119 million, with a 60% gross margin, and net cash from operating activities surged to $73 million, up from $54 million in Q3 2023. Adjusted EBITDA also saw significant growth, coming in at $87 million.
DigitalOcean CEO Paddy Srinivasan has framed these results as a testament to DigitalOcean's commitment to start scripting the next chapter by [...]
📅 - Global cloud hosting provider DigitalOcean has reported its financial results for the second quarter ended June 30, 2024, showing robust growth and strategic progress underscoring continued momentum in the tech industry. The company's second quarter performance reflects a focused effort to expand product offerings and drive growth, particularly in the AI and ML space.
Reads: 169 | Category: General | Source: Hosting Jurnalist : Hosting Jurnalist | Author: