Cloudflare raises annual outlook above market estimates on AI-driven demand

Aug 6 : Cloudflare raised its full-year revenue forecast above Wall Street expectations after strong quarterly results, betting that the rapid rise of AI agents will keep driving traffic across its network, sending its shares up 18 per cent after the bell.The race to build and scale AI agents has led more businesses to rely on Cloudflare's network to safely route traffic and run those tools, boosting demand for its cloud and security products.Here are more details:• Cloudflare raised its annual revenue forecast to a range of $2.86 billion to $2.87 billion, from $2.805 billion to $2.813 billion previously, and above analysts' average estimate of $2.81 billion, according to LSEG-compiled data. • The cloud services provider reported a revenue of $696.1 million for the second quarter ended Jun