Cloudflare (NYSE: NET) inches up in pre trading session on Monday as the stock was mostly flat after initially rising on Friday in response to the internet infrastructure company’s guidance that exceeded Wall Street expectations. Cloudflare anticipates earnings of between 3 cents and 4 cents per share in the current quarter. Cloudflare expects revenue of $1.33 billion to $1.34 billion in 2023, up from $1.31 billion predicted by analysts.
Cloudflare stock was mostly flat after initially rising on Friday after the internet infrastructure company issued guidance that exceeded Wall Street expectations.
Cloudflare (NASDAQ:NET) anticipates earnings of 3 cents to 4 cents per share in the current quarter. FactSet polled analysts, who predicted first-quarter earnings of 3 cents. The company also anticipates first-quarter sales of between $290 million and $291 million, up from $228.2 million a year ago. Analysts predicted $290 million in sales.
Cloudflare co-founder and CEO Matthew Prince stated that they achieved record operating profit, operating margin, and free cash flow in the fourth quarter. They also passed over 2,000 large customers who pay us more than $100,000 per year and signed a record number of deals worth more than $500,000. During economic downturns, they believe it is critical to maintain discipline and optimize for efficiency. They control the levers of their business and have a full-throttle innovation engine that the industry envies. There has never been a better time to stay ahead of the competition and continue to deliver products that their customers consider essential.
The following forward-looking statements about our financial outlook are subject to substantial uncertainty as a result of challenging general economic conditions, such as inflation, rising interest rates, and other effects of the ongoing COVID-19 pandemic or Russia-Ukraine conflict, and reflect our estimates as of February 9, 2023 about the impact of these factors on our operations, and are highly dependent on numerous factors that we may not be able to predict or control: the COVID-19 pandemic, the Russia-Ukraine conflict, and related challenging macroeconomic conditions, and the impact on our customers, vendors, and partners, as well as the impact on global and regional economies, financial markets, and economic activity in general, such as inflation, rising interest rates, changes in monetary policy, supply chain disruptions, and foreign currency fluctuations; our ability to continue operating in impacted areas; and customer demand and supply chain disruptions.
