Cloudflare Stock Melts Down 24% As Company Slashes Forecast Due to Elongated Sales Cycle

24
Comment
Favorite

Cloudflare Stock Melts Down 24% As Company Slashes Forecast Due to Elongated Sales Cycle

marketwatch2023-04-28

Cloudflare Inc. shares were tanking more than 24% in Thursday's after-hours action after the company cut its forecast for the full year, citing a "material lengthening" of its sales cycle that's ...

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/2330055020?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-04-28 07:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2330055020","market":"us","top_or_hot":-1,"title":"Cloudflare Stock Melts Down 24% As Company Slashes Forecast Due to Elongated Sales Cycle","media":"marketwatch","content":"<div>\n<p>Cloudflare Inc. shares were tanking more than 24% in Thursday's after-hours action after the company cut its forecast for the full year, citing a \"material lengthening\" of its sales cycle that's ...</p>\n\n<a href=\"https://www.marketwatch.com/story/cloudflare-stock-melts-down-as-company-slashes-forecast-due-to-elongated-sales-cycle-2023-04-27?mod=newsviewer_click\">Source Link</a>\n\n</div>\n","source":"mwatch_stock","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 Stock Melts Down 24% As Company Slashes Forecast Due to Elongated Sales Cycle</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 Stock Melts Down 24% As Company Slashes Forecast Due to Elongated Sales Cycle\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-28 07:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/cloudflare-stock-melts-down-as-company-slashes-forecast-due-to-elongated-sales-cycle-2023-04-27?mod=newsviewer_click><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cloudflare Inc. shares were tanking more than 24% in Thursday's after-hours action after the company cut its forecast for the full year, citing a \"material lengthening\" of its sales cycle that's ...</p>\n\n<a href=\"https://www.marketwatch.com/story/cloudflare-stock-melts-down-as-company-slashes-forecast-due-to-elongated-sales-cycle-2023-04-27?mod=newsviewer_click\">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.marketwatch.com/story/cloudflare-stock-melts-down-as-company-slashes-forecast-due-to-elongated-sales-cycle-2023-04-27?mod=newsviewer_click","article_id":"2330055020","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2330055020","pubTimestamp":1682638215,"sourceInfo":{"source_id":"mwatch_stock","name":"Market Watch"},"weMediaInfo":null,"summary":"Cloudflare Inc. shares were tanking more than 24% in Thursday's after-hours action after the company","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NET":"Cloudflare, Inc."},"translate_title":"由于销售周期延长，Cloudflare公司大幅下调预测，股价下跌24%","themeId":"ec9f6f0df2b6498587e7f5318b2eff2b","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NET":0.9},"content_text":"Cloudflare Inc. shares were tanking more than 24% in Thursday's after-hours action after the company cut its forecast for the full year, citing a \"material lengthening\" of its sales cycle that's expected to weigh on results. The cloud-services company now expects $1.280 billion to $1.284 billion in full-year revenue, whereas Cloudflare's prior outlook was for $1.330 billion to $1.342 billion in revenue. The FactSet consensus was for $1.335 billion. \"Increasing macroeconomic uncertainty over the course of the first quarter resulted in a material lengthening of sales cycles and a significant backend-weighting of linearity,\" Chief Financial Officer Thomas Seifert said in a release. \"Despite the continued reacceleration of our new pipeline generation and our sustained high win rates and renewal rates during the first quarter, our guidance assumes these external headwinds will persist through the end of the fiscal year.\" The company's second-quarter revenue forecast calls for $305 million to $306 million in revenue, while the FactSet consensus was for $320 million in revenue. The downbeat outlook overshadowed Cloudflare's first-quarter results, which were better than expected on the bottom line and roughly in line with what analysts were expecting for revenue. The company logged a net loss of $38.1 million, or 12 cents a share, compared with $41.4 million, or 13 cents a share, in the year-earlier quarter. On an adjusted basis, Cloudflare earned 8 cents a share, up from 1 cent a share a year before and above the FactSet consensus, which was for 3 cents a share. Revenue rose to $290.2 million from $212.7 million, while the FactSet consensus was for $290.8 million. Cloudflare upped its full-year profit forecast and now expects 34 cents to 35 cents a share in adjusted earnings, while it previously was calling for 15 cents a share to 16 cents a share. Analysts were modeling 16 cents a share.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":24,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}