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00:03Cloudflare reported first quarter earnings above analyst expectations, according to CNBC.
00:07The company reported earnings of $0.25 per share on $640 million in revenue,
00:13beating analyst expectations of $0.23 per share and $622 million in revenue.
00:19The company said it is cutting more than 1,100 employees
00:23after stating that agentic artificial intelligence has fundamentally changed its work.
00:28The company said its use of AI has increased more than 600% over the past three months
00:33as it shifts to an agentic AI-first operating model.
00:37Revenue surged by 34% year-over-year.
00:40Cloudflare forecasts full-year 2026 revenue of $2.805 billion to $2.813 billion
00:46and earnings of $1.19 to $1.20 per share,
00:51exceeding analyst estimates of $2.8 billion in revenue and $1.14 per share in earnings.
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