Cloudflare Stock Slides On Q3 Earnings: Revenues Up 32%, Accelerated AI Innovation And More
Portfolio Pulse from Adam Eckert
Cloudflare Inc (NYSE:NET) reported Q3 earnings with revenue of $335.6 million, beating the analyst consensus estimate of $330.53 million by 1.53 percent and up 32% YoY. Adjusted earnings were 16 cents per share, up from 6 cents YoY. The company ended the quarter with $1.574 billion in cash, equivalents and available-for-sale securities. Cloudflare expects Q4 revenue to be in the range of $352 million to $353 million and full-year 2023 revenue to be between $1.286 billion and $1.287 billion. Despite the positive earnings, Cloudflare shares were down 6.97% after hours.

November 02, 2023 | 9:03 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Cloudflare reported better than expected Q3 earnings, but its stock price fell 6.97% in after-hours trading.
Cloudflare reported strong Q3 earnings, beating analyst estimates. However, despite the positive earnings report, the company's stock price fell in after-hours trading. This could be due to investors' expectations being higher than the reported earnings or other market factors not directly related to the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100