Cloudflare Stock Gains On Q3 Earnings Report: Here's Why

Benzinga
10/31

Cloudflare Inc. (NYSE:NET) shares were up after the company released its third-quarter earnings report after Thursday's closing bell.

  • NET stock is up. See the real-time price action here.

Here's what to know.

The Details: Cloudflare reported quarterly earnings of 27 cents per share, which beat the Street estimate of 23 cents.

Quarterly revenue came in at $562.02 million, which beat the analyst estimate of $544.82 million.

Read Next: Elon Musk’s Tesla Fleet Dream — AWS On Wheels

The company delivered RPO year-over-year growth of 43% and current RPO year-over-year growth of 30%.

“Our excellent third quarter results clearly demonstrate our increasing momentum, with revenue growth accelerating for the second consecutive quarter to 31 percent year-over-year. Great companies innovate and execute, and we continue to deliver on both,” said Matthew Prince, CEO of Cloudflare.

Outlook: Cloudflare expects fourth-quarter total revenue in a range of $588.5 million to $589.5 million.

NET Stock Price: According to data from Benzinga Pro, Cloudflare stock was up 7.87% at $240 in Thursday's extended trading. 

Read Next: 

  • Google’s Q3 Sends Stock To New Highs, Analysts Say ‘AI Momentum Is Nanobananas’

Photo: Shutterstock

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10