After Fastly reported disappointing numbers this morning and $NET followed it down (see here: https://www.reddit.com/r/investing/comments/n65ljk/fastly_reports_disappointing_1q_results_light/), $NET responded strongly.
Cloudflare earnings and revenue for the March quarter topped analyst estimates while revenue guidance came in above Wall Street targets. Cloudflare stock rose in extended trading, clawing back from a big loss in Thursday's regular session as software growth stocks retreated.
San Francisco-based Cloudflare (NET) reported a first-quarter loss of 3 cents per adjusted share vs. a 4-cent loss in the year-earlier period. Revenue jumped 51% to $138.1 million, said the provider of cloud-based networking and cybersecurity services.
Analysts expected Cloudflare to report a loss of 3 cents per share. Estimates called for revenue of $131 million for the period ended March 31.
Cloudflare stock rose 6.2% to 73.37 in extended trading on the stock market today. In Thursday's regular session, Cloudflare stock plunged 12.6%.
https://finance.yahoo.com/m/f98c4fa4-1595-3c88-a10c-c6442c91ffb8/cloudflare-stock-claws-back.html
Very interesting to see Cloudflare move in opposite direction of Fastly.
Submitted May 06, 2021 at 06:00PM by Gleb2006 https://ift.tt/3xQBlDh
