Cloudflare reported third-quarter revenue of $782.5 million, up 39% year over year and more than $45 million above Wall Street estimates. Adjusted earnings came in at $0.38 per share, compared with analyst estimates of approximately $0.34. The company said the quarter was its best ever, with annualized revenue exceeding $3 billion, and raised its outlook for the fourth quarter and the full year. Following the results, Cloudflare shares surged more than 17% in after-hours trading despite a sharp decline in the broader Nasdaq.
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