Cloudflare Reports Q2 Beat, Shares Gain 6%
<p><a href='https://financialmodelingprep.com/financial-summary/NET'>Cloudflare (NYSE:NET)</a> posted better-than-expected Q2 earnings, resulting in a significant 6% surge in its shares on Friday.</p>
<p>For the second quarter, the company reported earnings per share of $0.10 on revenue of $308.5 million, surpassing the Street estimate of $0.07 on revenue of $305.6 million. Sales demonstrated an impressive 32% year-over-year growth, while the adjusted gross margin came in at 77.7%, in line with Street expectations.</p>
<p>Furthermore, Cloudflare achieved a record-breaking quarter for new ACV (Annual Contract Value) bookings, indicating strong demand for its services.</p>
<p>Cloudflare sees itself uniquely positioned to become a leader in AI inferencing and has ambitious plans across the entire AI lifecycle to facilitate companies in building the future.</p>

NYSE:NET