The stock market is down: wanted to spotlight 4 companies that had strong earnings reports
After Supreme CourtStreet Leaked there is too much news about layoffs, the stock prices of biggest tech companies are withdrawing and the economy is going in the wrong direction.
There are some companies that are still doing well enough, and there are four companies that are reported strong earnings this week.
Technology products are developing at a high speed. Some are already over 50% and growth of 60% is not unheard of.
These companies have largely shared positive guidelines and have good earnings and favorable prospects, companies receive treatment from investors that ranges from non-public to downright hostile.
Some tech companies might perform slightly better in a recession or macroeconomic downturn similar to some predicted today
Results from Cloudflare and Confluent to gauge how the market is handling results that even seem pretty solid.
Cloudflare’s Q1 2022 earnings report is a good marker. The company hit its highest revenue expectations, posting peak revenue of $212.2 million, beating expectations by around $205 million.
Cloudflare’s Q1 revenue grew 54% year over year, 14,000 new customers added during this period. Customers who spent at least $500,000 increased by 68%, and those who spent $1 million or more increased by 72%.
CEO and co-founder Matthew Prince said Cloudflare’s best customers continue to grow, bringing in more revenue. The company’s guidance shows no signs of slowing down.