Cloudflare's Q4 revenue forecast falls short as cybersec competition intensifies
Cloudflare forecast fourth-quarter revenue below estimates on Thursday, hurt by intense competition in the cybersecurity market while businesses cut back on spending in an uncertain economy. Shares of the San Francisco, California-based company fell close to 8% in extended trading. Sticky inflation and high interest rates have led customers to cut back on expenses, hurting firms like Cloudflare, that sells tools and software, grouped as content delivery network (CDN) services, that help companies manage their applications on the internet.
