From Nasdaq: 2024-05-03 12:46:03

Cloudflare (NET) reported first-quarter earnings that beat estimates, but shares fell 17% due to concerns about slowing growth. The company earned $0.16 per share on sales of $378.6 million, surpassing expectations. However, Cloudflare’s guidance for future quarters raised questions as revenue is expected to grow by about 27% in 2024, lower than previous rates. While the company’s business remains strong with increased paying customers, investors are cautious about the potential slowdown. The uncertainty has affected Cloudflare’s stock valuation, prompting existing holders to stay calm while potential investors are advised to proceed cautiously.



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