Here is why Data Storage is up 50%

Data Storage Corporation (NASDAQ: DTST) is up 50% after the diverse business continuity solutions provider for cloud infrastructure, disaster recovery analytics solutions, and cyber-security announced its Q12022 financial results and offered a business update.

Data storage grew revenue by 236% YoY

CEO Chuck Piluso said:

For the quarter ended March 31, 2022, the company reported sales of $8.657 million versus $2.575 million a year ago. Net income (loss) attributable to shareholders was $135,788, and on per diluted and basic share basis, the company reported EPs of $0.02 compared to $0.01 per share a year ago.

The company has invested heavily to position itself as a leader in the IBM Power cloud platform and disaster recovery business. Additionally, the company continues to supply crucial information technology services to a specialty multibillion-dollar sector. The Flagship combination has placed the firm as a complete one-stop solutions company.

Piluso added:

Data storage well positioned to leverage the fast-growing market

Data Storage’s management believes that they are in a strong position to leverage the fast-expanding cloud infrastructure services, cyber security, disaster recovery, and data analytics markets that will contribute to fast revenue growth, considering more companies are transitioning their IBM Power platforms into the cloud.

Piluso concluded: