Cloudflare reports Q3 adjusted EPS 16c, consensus 10c

Reports Q3 revenue $335.6M, consensus $330.53M. “We delivered another strong quarter, growing revenue by 32% year-over-year to $335.6 million and delivering our fifth consecutive quarter of record operating profitability,” said Matthew Prince, co-founder & CEO of Cloudflare. “In our third quarter, we relentlessly innovated and accelerated our efforts in AI, announcing the most complete platform to deploy fast, secure, compliant AI inference at scale with Workers AI-along with several partnerships and collaborations with the who’s who of AI. We believe inference is the biggest opportunity in AI, and inference tasks will largely be run on end devices and on connectivity clouds like Cloudflare. By the end of 2024, we expect to have inference-optimized GPUs running in nearly every location where Cloudflare operates worldwide-within milliseconds of every Internet user.”