Cloudflare Posts Upbeat Q3 Results, Joins Amazon, Roku, Coinbase, Atlassian And Other Big Stocks Moving Higher On Friday

U.S. stocks were higher, with the Nasdaq Composite gaining around 1% on Friday.

Shares of Cloudflare, Inc. (NYSE:NET) rose sharply during Friday's session after the company reported better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates. Also, the company raised its FY25 guidance above estimates.

Cloudflare reported quarterly earnings of 27 cents per share, which beat the Street estimate of 23 cents. Quarterly revenue came in at $562.02 million, which beat the analyst estimate of $544.82 million.

Cloudflare shares jumped 12.6% to $250.73 on Thursday.

Here are some other big stocks recording gains in today’s session.

• AMTD Digital Inc. (NYSE:HKD) shares jumped 157% to $4.34 after the company reported a 1,085.9% year-over-year increase in revenue to $73.2 million for the six months ended April 30.
• LexinFintech Holdings Ltd. (NASDAQ:LX) gained 26% to $4.8500.
• Brighthouse Financial, Inc. (NASDAQ:BHF) rose 25.4% to $57.28.
• Butterfly Network, Inc. (NYSE:BFLY) gained 21.3% to $2.4750 after the company reported better-than-expected quarterly financial results.
• Illumina, Inc. (NASDAQ:ILMN) surged 21% to $119.88 after the company reported third-quarter results above estimates and raised its full-year guidance.
• Pacific Biosciences of California, Inc. (NASDAQ:PACB) jumped 20.8% to $2.3444.
• Ardelyx, Inc. (NASDAQ:ARDX) gained 20.3% to $6.03 after the company reported better-than-expected quarterly sales results.
• BJ’s Restaurants, Inc. (NASDAQ:BJRI) surged 19.1% to $34.16 following upbeat earnings.
• Reddit, Inc. (NYSE:RDDT) shares rose 17.8% to $229.10 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates. Also, the company reported a year-over-year increase in quarterly Daily Active Uniques.
• Twilio Inc. (NYSE:TWLO) gained 17.7% to $132.84 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates. Also, multiple firms raised their respective price targets on the stock.
• Alphatec Holdings, Inc. (NASDAQ:ATEC) surged 16% to $18.94 after the company reported better-than-expected third-quarter financial results and raised its FY25 sales guidance above estimates. Also, HC Wainwright and Needham raised their respective price targets on the stock.
• QuantumScape Corporation (NYSE:QS) rose 15.8% to $18.30.
• Bright Horizons Family Solutions Inc. (NYSE:BFAM) gained 15.3% to $106.43 after the company reported better-than-expected quarterly financial results and raised its FY25 guidance above estimates.
• Credo Technology Group Holding Ltd (NASDAQ:CRDO) rose 15.2% to $191.98.
• Astera Labs, Inc. (NASDAQ:ALAB) gained 14.6% to $194.46.
• Methanex Corporation (NASDAQ:MEOH) surged 13% to $38.27.
• Amazon.com, Inc. (NASDAQ:AMZN) rose 11% to $247.26 following upbeat quarterly results.
• Roku, Inc. (NASDAQ:ROKU) gained 10.3% to $110.40 following third-quarter results.
• Coinbase Global, Inc. (NASDAQ:COIN) rose 9.3% to $359.04 after the company reported better-than-expected Q3 financial results.
• Arcosa, Inc. (NYSE:ACA) gained 8.6% to $100.18 following upbeat earnings.
• Atlassian Corporation (NASDAQ:TEAM) rose 5% to $168.61 after the company reported first-quarter results above estimates.

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