Revenue Beat, EPS Beat, Strong Guidance, ‘Robust Momentum’ And More

Cloudflare Inc. (NYSE:NET) shares are trading higher in Thursday's after-hours session following the company's better-than-expected reports. financial results.

  • 4th quarter turnover: $362.47 million, beaten estimates of $353.1 million

  • 4th quarter EPS: 15 cents, beats estimates by 12 cents

Revenue grew 32% on an annual basis. Operating cash flow was $85.4 million and free cash flow was $50.7 million during the quarter. The company ended the quarter with $1.67 billion in cash, equivalents and available-for-sale securities.

“To close the year, the strength of our business was driven by strong momentum with large customers, significant progress in the public sector and the growth of Cloudflare One,” said Matthew Princeco-founder and CEO of Cloudflare.

“The machine that powers Cloudflare is operating efficiently at full capacity, and while the macro environment remains difficult to predict, customers continue to turn to us to connect, protect and optimize their systems to gain the control they need. need to accelerate their activities. .”

Outlook: Cloudflare expects first-quarter revenue to be between $372.5 million and $373.5 million, compared to an estimate of $372.3 million, according to BenzingaPro. The company expects first-quarter earnings of about 13 cents per share, compared with an estimate of 12 cents per share.

Show more income on NET

Cloudflare forecast full-year 2024 revenue of $1.648 billion and $1.652 billion versus estimates of $1.65 billion. The company expects full-year earnings of between 58 cents and 59 cents per share, compared with an estimate of 56 cents per share.

Cloudflare too announcement that he appointed the current member of the board of directors Marc Anderson as president of revenue to help “further accelerate the company’s next phase of growth to scale to $5 billion in annual recurring revenue and beyond.”

Look at this: Confirm Q2 Results: Higher Revenue, Higher EPS, Operating “with Excellence” and More

Action on NET prices: Cloudflare Shares closed Thursday up more than 8%. The stock was still up 14.2% after hours at $103.20 at press time, according to BenzingaPro.

Photo: 3844328 from Pixabay.

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