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Cloudflare's stock surged approximately 9% in premarket trading following the release of its fourth-quarter financial results, which exceeded expectations. The company reported an adjusted earnings per share (EPS) of$0.19, surpassing the anticipated$0.18, and a revenue of$459.9 million, marking a 27% year-over-year increase and exceeding the projected$452.04 million. Cloudflare also saw a 47% year-over-year growth in customers spending over$1 million annually, adding more than half of these 55 new customers in the fourth quarter.
CEO Matthew Prince highlighted the strong finish to 2024, and analysts from RBC Capital Markets and Stifel raised their price targets, reflecting optimism in Cloudflare's go-to-market execution and growth potential. Despite slightly lower-than-expected first-quarter revenue guidance, Cloudflare's full-year 2025 outlook was positive, with revenue forecasts aligning closely with consensus estimates and adjusted EPS guidance surpassing expectations. The company's strong financial health, with$1.86 billion in cash and cash equivalents, further underscores its robust position for future growth. Analysts remain bullish on Cloudflare's ability to leverage secular trends and deliver long-term financial outperformance.
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