Cloudflare's Q2 2023 revenue increased by 32% year-on-year to 44 billion yen, and operating profit hit a record high for the 4th consecutive quarter
Cloudflare has announced its financial results for the second quarter of 2023 (April-June). Revenue in the second quarter of 2023 was $ 308.5 million (about 44 billion yen), an increase of 32% compared to the same period last year.
Cloudflare, Inc. - Cloudflare Announces Second Quarter 2023 Financial Results
Cloudflare is a company that provides content delivery networks (CDN) and security services, and has operations all over the world, including Japan. Many of Cloudflare's services are for server administrators, but many people have seen `` hCaptcha '' that proves that they are human when using web services. hCaptcha is a CAPTCHA system developed by Cloudflare to compete with Google's reCAPTCHA, and is gradually gaining market share.
According to Cloudflare's second quarter 2023 earnings report published on August 3, 2023, revenue in the second quarter of 2023 increased 32% year-on-year to reach $308.5 million (about 44 billion yen). He said he did. CEO Matthew Prince said, 'Second quarter 2023 revenue increased 32% year-over-year to $308.5 million, record annual contract value (ACV) and four consecutive quarters of record operating profit. 'We hit record highs. We've proven that we can improve our operations even in difficult times. Our innovation engine is still on the mend, and we estimate Cloudflare is the cloud provider most used by AI startups.' and emphasized its good performance.
In addition, Cloudflare estimates revenue for the third quarter of 2023 (July-September) at $ 330 million to $ 331 million (about 47 billion yen to about 47.1 billion yen), and revenue for the full year of 2023 is estimated at $ 1,283 million to $ 1,287 million (about 182.7 billion yen to about 183.3 billion yen).
Immediately after the financial results report, Cloudflare's stock price soared in overtime trading, and at the time of article creation, it was $ 65.04 (about 9273 yen).
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