Cloudflare Shares Tumble 13% on Disappointing Revenue Outlook

11
Comment
Favorite

Cloudflare Shares Tumble 13% on Disappointing Revenue Outlook

Bloomberg05-03

Cloudflare Inc. reported second-quarter revenue projections that fell short of analysts’ expectations, sending shares plunging in after-market trading.The San Francisco-based security company ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

No comments yet

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1103162979?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-03 16:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1103162979","market":"us","top_or_hot":-1,"title":"Cloudflare Shares Tumble 13% on Disappointing Revenue Outlook","media":"Bloomberg","content":"<div>\n<p>Cloudflare Inc. reported second-quarter revenue projections that fell short of analysts’ expectations, sending shares plunging in after-market trading.The San Francisco-based security company ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-05-02/cloudflare-revenue-outlook-falls-short-of-wall-street-estimates\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cloudflare Shares Tumble 13% on Disappointing Revenue Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCloudflare Shares Tumble 13% on Disappointing Revenue Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-03 16:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-05-02/cloudflare-revenue-outlook-falls-short-of-wall-street-estimates><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cloudflare Inc. reported second-quarter revenue projections that fell short of analysts’ expectations, sending shares plunging in after-market trading.The San Francisco-based security company ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-05-02/cloudflare-revenue-outlook-falls-short-of-wall-street-estimates\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NET","symbol_name":"Cloudflare, Inc.","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-05-02/cloudflare-revenue-outlook-falls-short-of-wall-street-estimates","article_id":"1103162979","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1103162979","pubTimestamp":1714723790,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Cloudflare Inc. reported second-quarter revenue projections that fell short of analysts’ expectations, sending shares plunging in after-market trading.The San Francisco-based security company estimate","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"NET":"Cloudflare, Inc."},"translate_title":"由于收入前景令人失望，Cloudflare股价下跌13%","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NET":1.1},"content_text":"Cloudflare Inc. reported second-quarter revenue projections that fell short of analysts’ expectations, sending shares plunging in after-market trading.The San Francisco-based security company estimated that revenue would total $393.5 million to $394.5 million in the second quarter, with the midpoint of the range missing analysts’ estimates of $394.5 million. The second quarter revenue outlook falling short of expectations sparks concerns about the company’s ability to maintain its current growth rate, Bloomberg Intelligence said in a note.Shares fell 13% in New York, in premarket trading.Cloudflare and its peers have faced headwinds in recent months as businesses scaled back IT spending.For Cloudflare, the revenue projection overshadowed what was otherwise a solid beat in first-quarter results for the company. It posted adjusted earnings of 16 cents per share, up from a year earlier and beating analysts’ estimates of 13 cents.Cloudflare’s first quarter sales of $378.6 million beat analysts’ estimates of $373.7 million.Analysts have said that Cloudflare was taking share from rivals with cloud-based offerings on its content-delivery network, while a sales-force restructuring gained traction, which pointed toward improved momentum. New product launches and signing larger enterprise accounts may help the company steady revenue growth going forward.Still, ongoing pressure on IT budgets and greater scrutiny of deals remain near-term threats, Bloomberg Intelligence analysts note.The shares of cybersecurity company Fortinet Inc. also fell in after-hours trading Thursday after it reported quarterly billings below the average analyst estimate. The Sunnyvale, California-based firm’s billings for the quarter that ended March 31 were $1.41 billion, according to a statement it released after markets closed. That was down 6.4% from the same period last year and below the average estimate of $1.43 billion.Fortinet has seen challenges from slowing demand for its firewall products as well as competition from other security vendors, including Palo Alto Networks, Inc., on cloud computing security services, according to analysts.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":11,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}