Cloudflare (NET) Shares Rose 6% on Q4 Results and Better Than Expected Guidance

Cloudflare (NYSE: NET) shares were trading more than 6% higher after-hours following the company’s Q4 results, with revenue growing 54% year-over-year to $193.6 million, compared to the consensus estimate of $184.85 million. EPS came in at $0.00, in line with the consensus estimate.

Total revenue for the full 2021-year grew 52% to $656.4 million. According to Matthew Prince, co-founder & CEO of Cloudflare, the company delivered full 2021-year revenue growth of 52% ($656.4 million) with a 71% year-over-year increase in large customer growth.

The company expects Q1/22 EPS in the range of $0.00-$0.01, compared to the Street’s ($0.01), and revenue in the range of $205-206 million, compared to the Street’s $195.81 million.

For the full 2022-year, the company expects EPS in the range of $0.03-$0.04 (vs. Street’s $0.02) and revenue in the range of $927-931 million (vs. Street’s $888.44 million).

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