Microfocus
  • Home
  • Business Economics
  • Business Education‎
  • Business Ideas
  • Business Law‎
  • Business Ownership‎
  • Business News
Select Page

Cloudflare stock drops more than 9% after outlook forecasts possible loss

May 6, 2022

Cloudflare stock drops more than 9% after outlook forecasts possible loss


Cloudflare Inc. shares dropped in the extended session Thursday after the cybersecurity company’s quarterly results slightly beat Wall Street expectations, but its bottom-line forecast for the current quarter indicated a possible miss in its next report.

Cloudflare 
NET,
-13.93%
shares fell more than 9% after hours, following a 14% drop in the regular session to close at $77.81. Thursday’s session wiped out the last of Cloudflare’s gains over the past 12 months as the stock’s price closed 1.5% lower than it was this time last year. In comparison, the S&P 500 index
SPX,
-3.56%
is down 1.3% over the past 12 months, and the tech-heavy Nasdaq Composite Index
COMP,
-4.99%
is off by 9.7%.

Cloudflare said it expects an adjusted loss of a penny a share to break-even on revenue of $226.5 million to $227.5 million for the second quarter, while analysts surveyed by FactSet had forecast break-even a share on revenue of $217.9 million.

Related Posts:

  • MARKETS: Indices end at 6-mth lows, Sensex tanks 894 pts; YES Bank down 56{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca}

For the year, the company didn’t change its previous guidance of adjusted earnings of 3 cents to 4 cents a share, while bumping up its revenue forecast to a range of $955 million to $959 million, from a previous range of $927 million to $931 million. Analysts estimate earnings of 3 cents a share on revenue of $931.1 million.

Meanwhile, Cloudflare reported a first-quarter loss of $41.4 million, or 13 cents a share, compared with a loss of $40 million, or 13 cents a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was a penny a share, versus a loss of 3 cents a share in the year-ago period.

Revenue rose to $212.2 million from $138.1 million in the year-ago quarter.

Analysts had forecast break-even on a per-share basis share on revenue of $205.7 million, based on the company’s forecast of break-even to earnings of a penny a share on revenue of $205 million to $206 million.

“Cloudflare had a terrific first quarter of 2022, beating expectations with revenue growth up 54% year over year and adding more than 14,000 new paying customers — a quarterly record,” said Matthew Prince, Cloudflare’s chief executive, in a statement.

“Our largest customers continue to get larger, with those spending over $1M a year growing 72 percent year-over-year,” Prince said. “The key to our success and customer expansion is innovating at an unrelenting pace, and continued interest in consolidating behind a single vendor that can power multiple network services at scale.”



Source link

Recent Posts

  • SAP and Cloudflare under fire for Russia presence
  • Securing the UK public sector in the era of hybrid working
  • Data theft group might be ‘frustrated’ white hat hackers
  • Microsoft reveals Power Platform low code upgrades
  • Fears over tight supply keep crude oil futures elevated

Categories

  • Business
  • Business Economics
  • Business Education‎
  • Business Ideas
  • Business Law‎
  • Business News
  • Business Ownership‎
  • General
  • health
  • Medical
  • Real estate

Trails Js

Management Certificate Online Washington Tech

Partner Links

Intellifluence Trusted Blogger

BL

linkspanel

textlinks

Visit Now

car wash

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr    
  • Advertise Here
  • Contact Us
  • Privacy Policy
  • Sitemap
  • Home

Tags

Amazon Business Login Atos Best Business Schools Business Business Bank Account Business Card Maker Business Cards Near Me Business Card Template Business Casual Attire Business Casual Shoes Business Casual Woman Business Plan Examples Ca Business Search Centre Chase Business Credit Cards Chase Business Customer Service Chase Business Login Chase Business Phone Number Cheap Business Cards Citizens Business Bank COVID19 Cox Business Login Digital Business Card Free Business Cards Google Business Login information Innovation Lands End Business Massage Parlor Business Near Me Michigan Business Entity Search Mind Your Business Ohio Business Search Research Risky Business Costume Small Business Loan Small Business Saturday 2021 Starting A Business Texas Business Entity Search Triumph Business Capital Vending Machine Business Verizon Business Customer Service Vonage Business Login Wells Fargo Business Account Yahoo Small Business Yahoo Small Business Login
  • Facebook
  • Twitter
  • Instagram
  • RSS
microfocus-x-ray.com 2020