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Why Cloudflare Stock Exploded Higher Friday Morning

TheMotleyFool

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Why Cloudflare Stock Exploded Higher Friday Morning: https://g.foolcdn.com/editorial/images/764767/a-person-with-a-laptop-surverying-data-center-servers.jpg

Shares of Cloudflare (NYSE: NET) charged sharply higher Friday, surging by as much as 28.4%. As of 1:01 p.m. ET, the stock was up 21.1%.

The catalyst that sent the edge computing specialist soaring was a remarkably strong fourth-quarter report.

For the quarter, Cloudflare's revenue grew 32% year over year to $362.5 million, resulting in adjusted earnings per share (EPS) of $0.15, up 150%. Analysts' consensus estimates had called for revenue of $353 million and EPS of $0.12, so Cloudflare cleared both hurdles with ease.

Source Fool.com