Cloudflare stock gained late Thursday on December-quarter profit that met views and revenue that topped analyst estimates. In addition, the 2022 revenue guidance for NET stock came in above expectations.
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San Francisco-based Cloudflare (NET) reported fourth-quarter earnings after the market close.
The company said it had zero profit on an adjusted basis vs. a loss of 2 cents per share in the year-earlier period. Revenue for the provider of cloud-based networking and cybersecurity services jumped 54% to $193.6 million.
Analysts expected Cloudflare to report earnings of zero cents per share on revenue of $185.2 million for the period ended Dec. 31.
Cloudflare stock climbed 6.2% to near 123 in extended trading on the stock market today. Heading into the Cloudflare earnings report, NET stock had retreated 12% in 2022.
In addition, Cloudflare announced the acquisition of…
