Cloudflare (NET) Stock: Why It Surged Over 20% Today

By Amit Chowdhry ● Aug 5, 2022
  • The stock price of Cloudflare (NET) surged over 20% during intraday trading today. This is why.

The stock price of Cloudflare (NET) surged over 20% during intraday trading today. Investors are responding positively to the company’s second-quarter results.

Cloudflare reported a Q2 EPS of $0, which was $0.01 higher than analyst estimates of ($0.01). And the revenue for the quarter was $234.5 million compared to the consensus estimate of $227.33 million. 

In terms of guidance, Cloudflare expects a Q3 2022 EPS of $0.00 and $0.01, compared to the consensus of $0.01. And Cloudflare expects Q3 2022 revenue of between $250 million and $251 million compared to the consensus of $246.9 million. 

Plus Cloudflare expects an FY2022 EPS of between $0.03 and $0.04 compared to the consensus of $0.03. And Cloudflare expects FY2022 revenue of $968 and $972 million compared to the consensus of $958.4 million.