On May 2, 2024, Cloudflare announced its financial results for its first quarter ended March 31, 2024 and revealed weaker-than-expected current-quarter sales guidance. Specifically, Cloudflare guided current-quarter revenue of $393.5 million to $394.5 million, with the midpoint of that range sitting below the $394.5 million expected by analysts.
Following this news, shares of Cloudflare fell more than 14% during pre-market trading, to close at $74.40 per share on May 3, 2024.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.