NET Stock Recent News

IT leader Cloudflare Inc (NYSE:NET) is moving 3.2% higher to trade at $76.74 this morning, after the company posted better-than-expected second-quarter results and raised its full-year outlook.

Cloudflare's stock increased by 8% after strong Q2 2024 results, priced at 83x next year's non-GAAP operating profits. Despite high valuation, Cloudflare's rapid revenue growth and profitability make it an attractive investment, with promising near-term prospects. Tepidly bullish on NET due to strong results, growth prospects, and potential challenges in the IT-buying environment.

Cloudflare's (NET) second-quarter results reflect gains from multiple client wins and growing momentum among large enterprise customers.

Cloudflare, Inc. (NYSE:NET ) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Phil Winslow - Investor Relations Matthew Prince - Co-Founder and Chief Executive Officer Thomas Seifert - Chief Financial Officer Mark Anderson - President, Revenue Conference Call Participants Matt Hedberg - RBC Capital Markets Shaul Eyal - TD Cowen Jim Fish - Piper Sandler Andrew Nowinski - Wells Fargo Adam Borg - Stifel Fatima Boolani - Citi Hamza Fodderwala - Morgan Stanley Trevor Walsh - JMP Operator Thank you for standing by. My name is Kathleen, and I will be your conference operator today.

Cloudflare (NET) came out with quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.10 per share a year ago.

Cloudflare stock rose on Q2 earnings and revenue that topped Wall Street targets while guidance came in above views.

Cloud connectivity company Cloudflare Inc NET reported second-quarter revenue of $401.0 million, up 30% year-over-year. The revenue beat a Street consensus estimate of $394.69 million, according to data from Benzinga Pro.

Cloudflare Inc.'s stock gained more than 8% in the after-hours session Thursday after the cybersecurity and software company beat Wall Street's expectations for its second quarter, which it deemed “terrific,” and also guided for better times ahead.

Software company Cloudflare raised its annual revenue and profit forecast on Thursday after a strong quarter, sending its shares up 9% in post-market trading.

SAN FRANCISCO--(BUSINESS WIRE)--Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced financial results for its second quarter ended June 30, 2024. “We had a strong second quarter, crossing $1.6 billion in annualized revenue and growing 30% year-over-year. The world is still complicated, but our team remained focused on execution and delivered terrific results, including a double-digit year-over-year improvement in sales productivity,” said Matthew Prince, co-fou.