Cloudflare Q3: Another Beat And Raise Gets It Closer To Its $5 Billion Revenue Target
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Cloudflare's Q3 FY24 earnings report shows strong growth, with a 28% YoY revenue increase and 49% YoY non-GAAP income growth. The company is focusing on product innovation and sales capacity to reach its $5 billion revenue target, despite a decline in Net Dollar Retention.
November 11, 2024 | 1:30 pm
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Cloudflare's Q3 FY24 earnings report shows strong growth, with a 28% YoY revenue increase and 49% YoY non-GAAP income growth. The company is focusing on product innovation and sales capacity to reach its $5 billion revenue target, despite a decline in Net Dollar Retention.
Cloudflare's strong Q3 earnings report, with significant revenue and income growth, supports a positive outlook. The company's strategic focus on product innovation and sales capacity is expected to drive further growth, justifying the raised price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100