Cloudflare, Inc. (NYSE:NET) reported its fourth-quarter financial results after Thursday's closing bell. Here's a look at the key figures from the quarter.
The Details: Cloudflare reported quarterly earnings of 19 cents per share, which beat the analyst consensus estimate of 18 cents. Quarterly revenue came in at $459.9 million which beat the analyst consensus estimate of $452.09 million and is an increase over sales of $362.47 million from the same period last year.
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“We had a very strong end of 2024. We saw record growth in our largest customers, those that spend more than $1 million with Cloudflare per year—closing the year with 173. We added 55 of those customers in 2024, and more than half of these new additions came in during fourth quarter alone,” said Matthew Prince, CEO of Cloudflare.
“I’m proud of how our team continued to deliver ground-breaking innovation, especially in AI, and remained focused on delivering real ROI for customers. We drove the record results in the fourth quarter while ensuring we’re well-positioned to capture the demand we see lined up in 2025 to reaccelerate Cloudflare’s growth,” added Prince.
Outlook: Cloudflare sees first-quarter adjusted earnings of 16 cents and revenue in a range of $468 million to $469 million. The company expects fiscal 2025 earnings of between 79 cents and 80 cents and revenue in a range of $2.09 billion to $2.094 billion.
NET Price Action: According to data from Benzinga Pro, Cloudflare shares are up 7.41% after hours at $152 on Thursday.
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