Cloudflare reports upbeat guidance on boost from rising network security demand By Investing.com



© Reuters.

Investing.com — Cloudflare reported Thursday fourth-quarter results that topped Wall Street estimates and upbeat guidance as an ongoing surge in data to feed the generative artificial-intelligence boom boosted demand for network security. 

Cloudflare Inc (NYSE:) was up more than 14% in afterhours trading.

The company Q4 adjusted earnings of $0.15 a share on revenue of $362.5 million, up from $0.06 and $274.7M respectively, and ahead of analyst forecast for EPS of $0.12 and revenue of $353.11M. 

The 32% surge in revenue was driven by new customer wins and jump in renewals as ACV bookings reached a record in the quarter.

For Q1, the company forecast adjusted EPS of $0.13 on revenue of $372.5M to $373.5M, topping estimates for $0.12 and $372.3M, respectively.  

Looking further ahead, the company forecast adjusted EPS of $0.58 to $0.59 on revenue of $1.648B to $1.652B. 

 

 

 



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