Cloudflare Inc. shares surged 8% in Thursday\u2019s regular session and were poised to tack on substantial further gains after the company topped expectations with its latest financial results. <\/p>\n
The stock jumped 24% in Thursday\u2019s extended session on what Cloudflare The cybersecurity and software company posted a fourth-quarter net loss of $27.9 million, or 8 cents a share, whereas it lost $45.9 million, or 14 cents a share, in the year-earlier period. <\/p>\n On an adjusted basis, Cloudflare earned 15 cents a share, up from 6 cents a share a year before, while analysts surveyed by FactSet were expecting 12 cents a share. <\/p>\n Revenue rose 32% to $363 million, whereas analysts were modeling $353 million. <\/p>\n The company saw significant improvement in pipeline close rates, sales-force productivity and average deal size on a sequential basis, Chief Executive Matthew Prince said in a release. \u201cTo close out the year, strength in our business was driven by robust momentum with large customers, significant progress in the public sector and growth in Cloudflare One.\u201d<\/p>\n He said the company\u2019s business was \u201cfiring efficiently on all cylinders,\u201d with customers still spending despite macroeconomic uncertainties. <\/p>\n
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\n deemed \u201cexceptionally strong\u201d results for the December period.<\/p>\n