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Cloudflare: 4Q Earnings Snapshot

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SAN FRANCISCO (AP) _ Cloudflare, Inc. (NET) on Thursday reported a loss of $34 million in its fourth quarter.

The San Francisco-based company said it had a loss of 11 cents per share. Losses, adjusted for one-time gains and costs, came to 2 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The web security and content delivery company posted revenue of $125.9 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $118.2 million.

For the year, the company reported that its loss widened to $119.4 million, or 40 cents per share. Revenue was reported as $431.1 million.

For the current quarter ending in April, Cloudflare expects its results to range from a loss of 3 cents per share to a loss of 2 cents per share.

The company said it expects revenue in the range of $130 million to $131 million for the fiscal first quarter.

Cloudflare expects full-year results to range from a loss of 9 cents per share to a loss of 8 cents per share, with revenue ranging from $589 million to $593 million.

Cloudflare shares have risen 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $91.28, more than quadrupling in the last 12 months.

_____

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

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