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Cloudflare Inc. NET, +0.41% shares fell in the extended session Thursday even after the cybersecurity company’s results and outlook topped Wall Street expectations.
Cloudflare shares dropped 7% after hours, following a 0.4% gain in the regular session to close at $91.24. Over the past 12 months, however, shares have surged nearly 400%.
The company reported a fourth-quarter loss of $34 million, or 11 cents a share, compared with a loss of $28.2 million, or 10 cents a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was 2 cents a share, compared with a loss of 6 cents a share in the year-ago period.
Revenue rose to $125.9 million from $83.9 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast a loss of 3 cents a share on revenue of $118.3 million.
Cloudflare expects an adjusted loss of 3 cents to 2 cents a share on revenue of $130 million to $131 million for the first quarter, while analysts had forecast a loss of 3 cents a share on revenue of $126.4 million.
For the year, the company forecast an adjusted loss of 9 cents to 8 cents a share on revenue of $589 million to $593 million, while analysts estimate a loss of 9 cents a share on revenue of $569.1 million.
