Cloudflare Inc is a technology company that provides internet security, performance, and reliability services for websites and applications
Their platform offers a range of solutions, including content delivery network (CDN) services, DDoS mitigation, internet traffic optimization, and secure access to applications. By acting as a protective intermediary between users and web properties, Cloudflare helps businesses improve load times, protect against cyber threats, and enhance the overall performance of their online presence. The company serves a diverse range of clients, from small businesses to large enterprises, aiming to make the internet more secure and efficient for everyone.
Shares of internet security and content delivery network Cloudflare (NYSENET)
jumped 20.1% in the afternoon session after the company reported impressive fourth-quarter results, which exceeded analysts' billings expectations. Revenue also beat, with 28% year-on-year growth accelerating from 27% last quarter, something that the market tends to reward. The top line benefited from strong wins in the enterprise segment as the number of large customers kept pace with the sales growth while the large customer count (1m+ customers) grew even faster at 47% y/y. This raised the total enterprise revenue mix to 69%, up from 66% in the same period last year.
Cloudflare reported $1.572 billion in revenue for the twelve months ending September 30, 2024, reflecting a 30.04% YoY increase. The company holds $1.82 billion in cash and $1.45 billion in total debt.
The cybersecurity company’s revenue growth outpaced expectations, driven by a surge in large enterprise customers, but retail investors on Stocktwits remain cautious about its full-year guidance.
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Cloudflare reported earnings that not only beat analyst estimates but also exceeded its own forecasts, highlighting robust revenue growth and strategic customer acquisition.
Internet security and content delivery network Cloudflare (NYSENET) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 26.9% year on year to $459.9 million. On the other hand, next quarter’s revenue guidance of $468.5 million was less impressive, coming in 1% below analysts’ estimates. Its non-GAAP profit of $0.19 per share was in line with analysts’ consensus estimates.
