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Cloudflare reported first-quarter revenue jumped 27% year-over-year to $479.1 million, beating Visible Alpha estimates by about $10 million.Key Takeaways
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Cloudflare beat revenue estimates as it signed two record deals.
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The cloud services provider inked its largest contracts by size and longest-term secure access service edge (SASE).
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Shares of Cloudflare surged 9% Friday morning and are up about 25% in 2025.
Cloudflare (NET) shares took off Friday, a day after the provider of cloud services beat revenue estimates as it signed a pair of big contracts.
The company reported first-quarter revenue jumped 27% year-over-year to $479.1 million, beating Visible Alpha estimates by about $10 million. However, adjusted earnings per share of $0.16 came in a penny below forecasts.
CEO and co-founder Matthew Prince said Cloudflare scored the largest contract in its history, a more than $100 million deal driven by its Workers developer platform. It also signed its longest-term secure access service edge (SASE) contract ever.
Prince added that Cloudflare has "the scale, the technology, and the team to capture the massive opportunity ahead of us."
The company sees full-year adjusted EPS of $0.79 to $0.80, and revenue of $2.090 billion to $2.094 billion. Analysts surveyed by Visible Alpha were looking for $0.80 and $2.095 billion, respectively.
Shares of Cloudflare surged 9% and are up about 25% in 2025.
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