Cloudflare's Q4 revenue forecast falls short as cybersec competition intensifies [Yahoo! Finance]
Cloudflare, Inc. Class A (NET)
Last cloudflare, inc. class a earnings: 2/13 04:15 pm
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Source: Yahoo! Finance
Shares of the San Francisco, California-based company fell close to 8% in extended trading. Sticky inflation and high interest rates have led customers to cut back on expenses, hurting firms like Cloudflare, that sells tools and software, grouped as content delivery network (CDN) services, that help companies manage their applications on the internet. The company expects fourth-quarter revenue in a range of $451 million to $452 million, compared with analysts' average estimate of $455.7 million, according to data compiled by LSEG. It forecast quarterly adjusted net income per share of 18 cents per share, slightly above estimates of 17 cents apiece. The company's third-quarter revenue rose 28% to $430.1 million, compared with estimates of $424.1 million. Cybersecurity firms such as Palo Alto Networks and Crowdstrike Holdings have gained market share as companies look to adopt consolidated platforms for a variety of applications, threatening Cloudflare's share. Peer Akamai
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News
- Why Cloudflare (NET) Stock Is Up Today [Yahoo! Finance]Yahoo! Finance
- Cloudflare Expands Presence in Mexico Amid Growing Internet Usage and Cybersecurity Threats [Yahoo! Finance]Yahoo! Finance
- Cloudflare Expands Presence in Mexico Amid Growing Internet Usage and Cybersecurity ThreatsBusiness Wire
- Cloudflare Named a Leader in the 2024 IDC MarketScape for Worldwide Edge Delivery ServicesBusiness Wire
- Best internet speed tests of 2024 [USA TODAY]USA TODAY
NET
Earnings
- 11/7/24 - Beat
NET
Sec Filings
- 11/21/24 - Form 4
- 11/21/24 - Form 144
- 11/19/24 - Form 4
- NET's page on the SEC website