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Despite layoffs and economic worries, Cloudflare, Qualys, and CyberArk report varying financial results

By ET Bureau - February 12, 2023 1 Mins Read

Despite layoffs & economic worries, Cloudflare, Qualys, & CyberArk

Cybersecurity-related companies Cloudflare Inc., Qualys Inc., and CyberArk Software Ltd. reported a wide range of earnings results amidst widespread concerns about the global economy and layoffs in the tech industry.

With earnings before costs like stock compensation income of USD 21.6 million, or six cents per share, in its fiscal fourth quarter, Cloudflare took the lead, up from USD 100,000 in the corresponding quarter of 2021. To USD 274.7 million, revenue increased by 42%. Analysts had anticipated earnings per share of four cents and revenue of USD 274.4 million; however, Cloudflare surprised them.

Cloudflare reported adjusted net income per share of 13 cents on revenue of USD 875.2 million for the entire year 2022, up 49% from the previous year.

Read More: Amid economic concerns and layoffs, Cloudflare, Qualys and CyberArk report mixed earnings

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ET Bureau

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