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Cloudflare stock sinks after earnings; cuts 1,100 employees due to AI changes

Cloudflare reported better-than-expected Q1 earnings but announced layoffs of over 1,100 employees, citing AI-driven changes. Shares fell 18% in after-hours trading.

SourceHacker News AIAuthor: choult
Cloudflare stock sinks after earnings; cuts 1,100 employees due to AI changes
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Key points

  • Cloudflare beat Q1 estimates with EPS of $0.25 on revenue of $640 million
  • Company cuts 20% of workforce, over 1,100 employees, due to AI transformation
  • CEO says AI usage surged 600% in three months; adopting agentic AI-first model
  • Stock drops 18% after hours despite full-year guidance slightly above expectations

Highlights and analysis are generated automatically and may contain errors. Check the original source.

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