Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees due to AI changes
CNBC Top News ·
A logo of Cloudflare sits outside the company's house on the opening day of the 55th annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 20, 2025. …
A logo of Cloudflare sits outside the company's house on the opening day of the 55th annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 20, 2025. Yves Herman | Reuters Cloudflare reported first-quarter earnings Thursday that beat analysts' expectations, but shares fell 18% in extended trading as the company announced a 20% reduction in its workforce. Here's how the cloud company did versus LSEG estimates: Earnings per share: 25 cents vs. …
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