Cloudflare reports Q3 adjusted EPS 20c, consensus 18c

Reports Q3 revenue $430.1M, consensus $424.12M. “I am pleased with our results for the third quarter-exceeding expectations for revenue, operating margin, and free cash flow while also reaching a key inflection point in the transformation of our go-to-market organization. In addition, we added a record 219 large customers and achieved a new milestone-35% of the Fortune 500 are now paying Cloudflare (NET) customers,” said Matthew Prince, co-founder & CEO of Cloudflare. “I’m also proud of what we did to support causes even bigger than ourselves-helping to ensure cyber attacks did not play a role in impacting the outcome of the United States 2024 election. We exceeded financial, customer, and innovation milestones, all while protecting both presidential candidates and providing our services, at no cost, to hundreds of government websites in more than half of U.S. states. I want to thank our team for coming to the aid of election officials and campaigns whenever they had a need and for playing a vital role in upholding the democratic process.”