DigitalOcean Expands Overseas Reach With New Data Center In Sydney - DigitalOcean Holdings (NYSE:DOCN)

DigitalOcean Holdings, Inc (NYSE:DOCN) expanded its global presence with a new data center in Sydney, Australia (SYD1).
This new facility will better support DigitalOcean's current and prospective customers based in or have end-users in Australia and New Zealand.
Sydney is the ninth global region to house a DigitalOcean data center and the fifteenth facility overall.
The SYD1 data center features the most up-to-date network architecture. It is connected to DigitalOcean's private internet edge and backbone network, providing 400 Gbps of on-net access to Asia, North America, and Europe.
DigitalOcean CEO Yancey Spruill said, "This state-of-the-art data center will provide low-latency connectivity and our IaaS and PaaS productivity tools for startup businesses and SMBs in these important, rapidly growing markets."
The Sydney facility will provide direct connectivity to the market and improve the overall experience of end customers utilizing applications hosted on the DigitalOcean platform.
SYD1 will also provide seamless peering with hyperscalers, making a multi-cloud strategy simple for SMBs and startups who utilize more than one cloud provider.
Beginning today, users can deploy droplets, spin up DigitalOcean Kubernetes clusters, provision a managed database, or utilize any other DigitalOcean product from the SYD1 region.
DigitalOcean reported third-quarter revenue growth of 37% year-on-year to $152.1 million, beating the consensus of $148.9 million.
Non-GAAP EPS of $0.38 beat the consensus of $0.23.
Annual Run-Rate Revenue (ARR) ended the quarter at $640.6 million, representing 41% Y/Y growth.
Price Action: DOCN shares traded higher by 4.72% at $32.40 on the last check Tuesday.

DOCNDigitalOcean Holdings Inc

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