Cloudflare raises its full-year earnings forecast to $1.25–$1.26 per share.

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Cloudflare raises its full-year earnings forecast to $1.25–$1.26 per share, above the $1.20 estimate. Q2 results exceeded expectations as AI adoption drives demand for network services. CEO Matthew Prince says the internet is shifting toward AI answer engines. In May, the company cut 20% of its workforce and focused on AI agents. The stock is up 44% year-to-date. Altcoins to watch may benefit from improved market sentiment, as the Fear & Greed Index shows rising confidence.

Odaily Planet Daily report: Cybersecurity company Cloudflare released its earnings report and raised its full-year profit forecast, expecting adjusted earnings per share of $1.25 to $1.26 in 2026, up from its previous estimate of $1.19 to $1.20 and exceeding Wall Street analysts’ expectations of $1.20.

The company's second-quarter performance also exceeded market expectations. Cloudflare stated that demand for network infrastructure and security services continues to grow as AI applications expand rapidly. CEO Matthew Prince said the internet is shifting toward AI-powered answer engines and agent-driven business models, with machine-to-machine traffic reshaping the network ecosystem.

In May this year, Cloudflare announced the reduction of approximately one-fifth of its workforce and advanced its AI agent-first strategy. The company's stock has risen 44% year to date. (Bloomberg)

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