Cloudflare Inc Cl A (NET) said after close Thursday that it earned $0.15 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $362.5 million, beating estimates by $9.4 million.
In the same quarter a year ago, the company earned $0.06 per share on revenue of $274.7 million.
The stock is up 22.37% to $108.14 after the report.
Cloudflare Inc Cl A's earnings expanded faster than revenues, signaling widening profit margins.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Cloudflare Inc Cl A a Bullish Sentiment Rank from InvestorsObserver.
Cloudflare Inc Cl A has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 84, putting Cloudflare Inc Cl A in the top 25% of stocks. The firm was recently trading at a 52-week high of $91.08 on February 8, 2024 and set a 52-week low on May 4, 2023 at $39.9.
Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy, and execute code without maintaining servers.
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Cloudflare Inc Cl A Up 22.37% To $108.14 After Earnings Beat
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