Cloudflare reported Q2 revenue of $696.1 million and lifted full-year guidance, citing strong demand for AI-driven infrastructure modernization.
Cloudflare shares rose over 16% in pre-market trading after the company reported second-quarter adjusted earnings of $0.29 per share on revenue of $696.1 million, surpassing estimates of $0.27 per share and $665 million in revenue. The company also raised its full-year revenue forecast to a range of $2.86 billion to $2.87 billion, up from $2.805 billion to $2.813 billion previously.
The revised outlook reflects growing demand for Cloudflare’s networking and security products, driven by AI adoption and infrastructure upgrades. The company also increased its adjusted earnings per share guidance to $1.25 to $1.26, from $1.19 to $1.20 earlier. Comparable Q2 2023 revenue was $308.5 million, highlighting significant year-over-year growth.
The results follow CrowdStrike’s recent fiscal Q1 2027 earnings, which also exceeded expectations, underscoring robust demand across the cybersecurity sector. CrowdStrike reported revenue of $1.39 billion and adjusted earnings of $1.10 per share, beating estimates of $1.07 per share and $1.36 billion in revenue.