Shares of Cloudflare (NET) are jumping in extended-hours trading on Thursday as the company released its fourth-quarter earnings with revenue at $362.5 million for the quarter, an increase of 32% year-over-year. Full-year 2023 revenue was $1.3 billion. The company also released forecasts for its first quarter revenue at $372.5-$373.5 million, beating Wall Street expectations.
Shares of Expedia (EXPE) are sliding in extended-hours trading as the company released its fourth-quarter earning, reporting its highest ever full-year and fourth quarter revenue, both of which grew 10%. In addition, the company announced a transition for its CEO position, Ariane Gorin, the President of Expedia for Business, will succeed Peter Kern starting on May 13th.
Yahoo Finance Anchor Julie Hyman breaks down the latest developments for the companies.
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Editor's note: This article was written by Nicholas Jacobino
Video Transcript
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JULIE HYMAN: Let's take a look at some tickers trending in after hours. Shares of Cloudflare are soaring in after-hours trade. They were up as much as 20%. Right now up by about 14%.
The network service company's forecast for the first quarter exceeding expectations or at least in line with expectations here. The company's fourth quarter earnings beating estimates by $0.03 a share here. Revenue for the first quarter, Cloudflare sees as $372 and a half to $373 and a half million. $373.3 million is what analysts had been anticipating. CEO Matthew Prince calling the quarter exceptionally strong citing robust demand from large customer . and growth in the company's Cloudflare One platform.
And we're also watching shares of Expedia, which is sliding on its earnings. Results were mixed, including the key metric of gross bookings. Earnings per share coming in at $1.72. The estimate was for $1.69. And the company is also announcing a CEO transition plan Ariane Gorin will be replacing CEO Peter Kern in May of this year.
