From Yahoo Finance: 2024-05-02 19:04:49

Cloudflare, Inc. reported Q1 earnings of 16 cents/share, beating estimates by 23.08%, with sales of $378.6 million, marking a 30.47% YoY growth. Free cash flow was $35.6 million, up from $13.9 million last year. Cloudflare’s CEO, Matthew Prince, highlighted their 30% revenue growth and launch of new products. The company expects Q2 revenue of $393.5-394.5 million and full-year revenue of $1.648-1.652 billion. Cloudflare stock plummeted 14.20% after-hours to $76.30. Despite the disappointing results, the company remains optimistic about future growth and product expansion in the AI space.



Read more at Yahoo Finance: Cloudflare Stock Tanks Following Q1 Results, Subpar Guidance