Reported about 13 hours ago
Cloudflare Inc. shares soared to a record after exceeding sales expectations for both quarterly and annual figures, aided by a reorganization and the onboarding of large enterprise clients. The company forecasted fourth-quarter sales of $589 million, surpassing analysts’ predictions, while last quarter's revenue reached $562 million, also above forecasts. Cloudflare adjusted its earnings outlook for the fiscal year to 91 cents per share. With shares up over 120% this year, the firm aims to revolutionize its network to support AI model training, despite potential market concerns.
Source: YAHOO