From CNBC:

Cloudflare shares rose 21% in extended trading after issuing results that were more robust than analysts had projected. Earnings came in at 15 cents per share, while revenue was $362.5 million, a 32% increase. Cloudflare’s net loss of $27.9 million was an improvement, and they also reported record contract value.

Notably, Cloudflare announced their plan to supply software developers with GPUs for AI and has expanded into 120 cities to meet business demand.

Cloudflare cited an increase in cyberattacks since October, and in response appointed a new president, Mark Anderson. For future, the company is projecting 13 cents in adjusted net earnings per share on $372.5 million to $373.5 million in revenue in the first quarter, and middle of the revenue range for 2024. Cloudflare is up 8% in 2024.



Read more: Cloudflare (NET) Q4 earnings report 2023