From Dow Jones & Company:

Cloudflare Inc. saw its shares surge 8% after the company beat expectations with its latest financial results. The stock jumped 24% in extended session, with a fourth-quarter net loss of $27.9 million, revenue rose 32% to $363 million. CEO Matthew Prince said there was significant improvement in pipeline close rates, sales-force productivity and average deal size. Piper Sandler analyst James Fish said the company outperformed on remaining performance obligations (RPO) and showed traction on non-RPO metrics. Cloudflare is modeling $372.5 million to $373.5 million in revenue for the current quarter, along with 13 cents in adjusted earnings per share. Looking ahead, Cloudflare anticipates $1.648 billion to $1.652 billion in revenue and 58 cents to 59 cents in adjusted EPS.



Read more: Cloudflare’s stock catapults 24% higher as earnings bring ‘a lot to like’