Cloudflare Sees FY24 Revenue $1.648B-$1.652B Vs $1.653B Estimate; Sees Adj. EPS $0.60-$0.61 Vs $0.60 Estimate
Portfolio Pulse from Benzinga Newsdesk
Cloudflare projects its FY24 revenue to be between $1.648B and $1.652B, slightly below the $1.653B estimate. The company also forecasts its adjusted EPS to be in the range of $0.60 to $0.61, aligning with the $0.60 estimate.
May 02, 2024 | 8:25 pm
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NEUTRAL IMPACT
Cloudflare's FY24 revenue projection slightly below expectations, with adjusted EPS estimates aligning with analyst predictions.
The slight miss in revenue forecast could put mild pressure on Cloudflare's stock price in the short term, but the alignment of adjusted EPS with estimates may mitigate significant negative impact. The mixed forecast suggests a neutral short-term outlook, as the slight revenue miss is balanced by meeting EPS expectations.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100