Shares of Cloudflare Inc.NET, + 0.41%, fell in the extended session on Thursday, even after the cybersecurity company’s results and outlook beat Wall Street expectations. Cloudflare shares fell 7% after hours, following a 0.4% gain in the regular session to close at $ 91.24. However, over the past 12 months, the stock has risen nearly 400%.
The company reported a fourth-quarter loss of $ 34 million, or 11 cents a share, compared to a loss of $ 28.2 million, or 10 cents a share, in the same period last year. The adjusted loss, which excludes share-based compensation expense and other items, was 2 cents per share, compared to a loss of 6 cents per share in the prior year period. Revenues increased to $ 125.9 million from $ 83.9 million in the prior year 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.