Cloudflare forecasts weak fourth-quarter revenue, shares fall

Cloud services provider Cloudflare on Thursday forecast current-quarter revenue below Wall Street estimates on worries that corporate spending will remain tight triggered by economic uncertainty."With broadening geopolitical uncertainty and increasingly mixed macroeconomic data points... the business environment in which we operate remains challenging to predict," CFO Thomas Seifert said on an earnings call.

Cloudflare, which offers a suite of website and application services products including content delivery network services, said it expects fourth-quarter revenue between $352 million and $353 million, compared with market estimates of $356.3 million, according to LSEG data.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EPAM Systems raises annual profit on strong cloud demandEPAM Systems forecast annual profit above market expectations and beat estimates for third-quarter profit on Thursday as businesses increasingly digitise operations and adopt cloud services, sending the software firm's shares up over 6 per cent in premarket trading.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Apple holiday forecast misses expectations, shares sinkApple on Thursday (Nov 2) gave a sales forecast for the holiday quarter that missed Wall Street expectations, hurt by weak demand for iPads and wearables, sending its shares down 3.5 per cent in after-hours trading.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »