Cloudflare reported adjusted earnings of $0.29 per share on quarterly revenue of $696.06 million. Both figures exceeded Wall Street expectations, with analysts forecasting adjusted earnings of $0.27 per share and revenue of $664.67 million. Cloudflare expects adjusted earnings of $0.34 per share and revenue between $736 million and $737 million. For full-year 2026, Cloudflare increased its adjusted earnings forecast to $1.25-$1.26 per share, up from its previous range of $1.19-$1.20. The strong Cloudflare earnings report stands out as broader U.S. software stocks face concerns that rapid AI adoption could disrupt traditional software services.