Cloudflare (NET) Stock Jumps 16% After Q2 Revenue Beats and Guidance Raised

TLDR

• Cloudflare stock jumped 15.8% in pre-market trading after Q2 revenue hit $696.1 million, up 36% year-over-year
• Adjusted EPS came in at $0.29, beating the $0.27 analyst estimate
• Full-year 2026 revenue guidance raised to $2.864–$2.870 billion, above consensus
• AI agent traffic surpassed 50% of total network traffic for the first time
• Multiple analysts raised price targets, including TD Cowen lifting its target to $355

Cloudflare posted Q2 revenue of $696.1 million, up 36% year-over-year, beating analyst expectations of around $664–$665 million. Adjusted earnings came in at $0.29 per share, ahead of the $0.27 consensus estimate.

CLOUDFLARE $NET Q2’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $696.1M (Est. $666M) 🟢; +36% YoY
🔹 Adj. EPS: $0.29 (Est. $0.27) 🟢; +38% YoY
🔹 Oper Income: $96.1M (Est. $90.2M) 🟢; +33% YoY
🔹 FCF: $56.4M (Est. $59.2M); +69% YoY

Raises FY26 Guide:
🔹 Revenue: $2.86B-$2.87B (Est.… pic.twitter.com/EV1AZoDptD

- Wall St Engine (@wallstengine) August 6, 2026

The stock hit $329.46 in pre-market trading, surging 15.8% and blowing past its prior 52-week high of $305. It had traded as low as $158.83 over the past year.

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