Movement Alert|Cloudflare, Inc. rises 3.31% in Pre-Market Trading, earnings beat and raised outlook remain in focus

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Yesterday

On November 11, Cloudflare, Inc. rose 3.31% in Pre-Market Trading, trading at $305.8 per share, with turnover of $1.403 billion.

The move appears tied to continued market digestion of the company’s latest quarterly results, which beat expectations and came with materially higher fourth-quarter and full-year guidance.

Cloudflare, Inc. reported third-quarter adjusted EPS of $0.38 versus the $0.34 consensus, while revenue reached $782.5 million, up 39% year over year and above expectations near $737 million. It also guided fourth-quarter revenue to $845 million-$846 million, well above the roughly $796.2 million consensus, and lifted full-year adjusted EPS guidance to $1.35 from a market expectation of about $1.26. Recent market reports also noted the post-earnings rally has continued to support the shares.

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