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Cloudflare (NET) up 20% After Hours: Here’s What Happened

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By Jeremy Phillips Published
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Cloudflare (NET) up 20% After Hours: Here’s What Happened

© Sundry Photography / iStock Editorial via Getty Images

Following their latest earnings release, CloudFlare (NYSE: NET) shares soared by 20% in after hours trading a testament to the company’s robust performance and forward-looking guidance if we break down the numbers. CloudFlare reported

adjusted earnings of 15 cents per share. Outperforming analysts prediction of 12 cents.

Their revenue reached 362. 5 million, exceeding the anticipated 353. 1 million. This marks a significant 32 percent growth, mirroring their progress from the previous quarter. Notably, the company’s net loss narrowed to 27. 9 million, compared to last year’s 45. 9 million.

CEO Matthew Prince highlighted a remarkable quarter for Cloudflare, including signing their largest ever new customer deal and the biggest renewal, setting a new record for annual contract value.

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