Why Cloudflare Shares Are Seeing Blue Skies Today
Portfolio Pulse from Lekha Gupta
Cloudflare Inc (NYSE:NET) shares are trading higher by around 9% after the company reported strong Q2 FY23 results and issued above-consensus Q3 guidance. The company's revenues of $308.5 million surpassed the consensus of $305.6 million, and its adjusted EPS of $0.10 beat the consensus of $0.07. The company also raised its 2023 revenues forecast and adjusted EPS.
August 04, 2023 | 2:58 pm
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POSITIVE IMPACT
Cloudflare's strong Q2 FY23 results and above-consensus Q3 guidance have led to a rise in its share price. The company's raised 2023 revenues forecast and adjusted EPS also indicate positive future performance.
Cloudflare's strong Q2 FY23 results and above-consensus Q3 guidance have led to a rise in its share price. This indicates investor confidence in the company's performance. Additionally, the company's raised 2023 revenues forecast and adjusted EPS suggest that it expects to continue performing well, which could further boost investor confidence and positively impact its share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100