AI Summary
Cloudflare has increased its annual profit forecast for the third time this year, anticipating adjusted earnings of $1.35 per share. This adjustment reflects the growing demand for networking services driven by the rapid adoption of artificial intelligence.
- Cloudflare Inc. has raised its profit forecast for the third time in 2023.
- The company now expects adjusted earnings of $1.35 per share, up from a previous estimate of $1.25 to $1.26 per share.
- Wall Street analysts had an average estimate of $1.27 per share.
- The increase in profit expectations is attributed to heightened demand for networking services due to the rapid adoption of artificial intelligence.
cloudflareai adoptionnetworking servicesprofit forecastartificial intelligence