this was hard week. After Supreme Court leakway too much news about layoffs, in share prices of the largest technology companies are retreating, and the general feeling that the economy is going in the wrong directionit’s easy to think that everything sucks.
But we are here to cheer you up a little, at least to say that it is not so. all bad news. There are companies that are still doing well, and we wanted to highlight four companies that had good earnings and losses this week.
While it’s easy to think that everyone is suddenly on a train to nowhere, recent earnings reports from several software companies are proof that we still have tech stores growing at a fast pace. How high? Some of them exceeded 50%, and a 60% increase was not unusual.
Moreover, the companies we review today shared generally positive outlooks. And yet, even with positive earnings and favorable prospects, investor attitudes towards companies have ranged from evasive to outright hostile.
The argument could be made that some tech companies might weather a recession or similar macro downturn a little better than some expect today; in mid 2020 lessons In other words, you may need to retrain.
Let’s take a look at Cloudflare and Confluent’s results to gauge how the market feels about results that seem pretty darn reliable. We’ll also take a look at Amplitude, a company that took huge chunks after its Q4 2021 earnings report and therefore slightly corrected its last financial statement, and also closed Appian.
cloudflare Profit and loss statement for the 1st quarter of 2022 is a good marker of the state of the game. How so? The company beat earnings expectations for the most recent period, posting revenue of $212.2 million, well above expectations of around $205 million. This is a kind of growth result that would have been amazing last year.
For those of you keeping an account at home, Cloudflare’s first-quarter revenue is up 54% year-over-year. There was other good news as well, such as the addition of 14,000 new customers during this period. What’s more, the number of customers who spent at least $500,000 grew by 68%, while the number of customers who spent $1 million or more grew by 72%.
According to CEO and co-founder Matthew Prince, Cloudflare’s top customers have continued to grow, generating more revenue. In addition, the company’s management does not indicate signs of a slowdown.
Credit: techcrunch.com /