Software firm Cloudflare raised its annual revenue and profit forecasts after delivering better-than-expected results for the second quarter on Thursday, sending its shares up nearly 6% in extended trading.
raised its annual revenue and profit forecasts after delivering better-than-expected results for the second quarter on Thursday, sending its shares up nearly 6% in extended trading.
Cloudflare now sees 2023 revenue in the range $1.283 billion to $1.287 billion, compared with its earlier forecast of $1.280 billion to $1.284 billion. It also raised its adjusted per-share profit forecast by more than 2 cents. For the quarter ended June 30, its revenue grew 32% to $308.5 million, inching past analysts' average estimate of $305.6 million, according to Refinitiv.
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