Cloudflare Faces Investor Concerns Despite Beating Q1 Expectations

Despite surpassing Q1 earnings, Cloudflare's stock declines amid disappointing future revenue forecasts and growth concerns.

Cloudflare reported a Q1 earnings beat with $0.16 per share, exceeding the expected $0.13, and revenue of $378.6 million.
Investor anxiety rises as Cloudflare projects Q2 revenue between $393.5 million and $394.5 million, below the anticipated growth rates.
Analysts adjust Cloudflare's stock price targets downward following the Q1 results and subdued future guidance.
The company's stock price experienced significant drops, reflecting market reactions to the less optimistic revenue outlook.
Despite strong customer growth, Cloudflare faces challenges from macroeconomic conditions and increased competition in the cybersecurity sector.