Cloudflare reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this web security and content delivery company would post a loss of $0.04 per share when it actually produced a loss of $0.02, delivering a surprise of 50%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Cloudflare, which belongs to the Zacks Internet - Software industry, posted revenues of $172.35 million for the quarter ended September 2021, surpassing the Zacks Consensus Estimate by 3.90%. This compares to year-ago revenues of $114.16 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Cloudflare shares have added about 156.4% since the beginning of the year versus the S&P 500's gain of 24.1%.