Cloudflare Beats on Quarterly Sales, Raises Revenue Outlook

Cloudflare Inc. reported quarterly sales that far exceeded expectations, demonstrating continued demand for its security and performance services as enterprises prioritized network resilience and application protection.

Revenue for the fourth quarter rose to $614.5 million, representing a 34% year-over-year increase, while adjusted earnings were 28 cents a share, the company said in a statement. Analysts, on average, expected revenue of roughly $591.4 million and adjusted earnings of 27 cents a share, according to data compiled by Bloomberg.