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Cloudflare: 3Q Earnings Snapshot

·1 min read

SAN FRANCISCO (AP) _ Cloudflare, Inc. (NET) on Thursday reported a loss of $26.5 million in its third quarter.

The San Francisco-based company said it had a loss of 9 cents per share. Losses, adjusted for one-time gains and costs, were 2 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The web security and content delivery company posted revenue of $114.2 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $103.1 million.

For the current quarter ending in December, Cloudflare expects its results to range from a loss of 4 cents per share to a loss of 3 cents per share.

The company said it expects revenue in the range of $117.5 million to $118.5 million for the fiscal fourth quarter.

Cloudflare expects full-year results to range from a loss of 13 cents per share to a loss of 12 cents per share, with revenue ranging from $422.5 million to $423.5 million.

Cloudflare shares have more than tripled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $58, more than tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NET at https://www.zacks.com/ap/NET