Cloudflare Surges on Strong Earnings and Profit Performance

Cloudflare Inc. saw a surge in its stock price after reporting fourth-quarter sales and profit that exceeded analysts' expectations, with revenue increasing by 32% to $362.5 million and profit reaching 15 cents a share, surpassing the projected 12 cents a share on sales of $353.8 million. The company attributed its strong results to momentum with large customers, progress in the public sector, and growth in its unified networking and security product, Cloudflare One. The shares jumped 21% in extended trading, reflecting a 56% gain over the past 12 months, as the company continues to provide cloud-based software, including cybersecurity products, for businesses managing their websites and network equipment.