Cloudflare shares rise 10.21% premarket after reporting strong Q1 earnings and securing a $100 million contract.

Cloudflare, Inc. rose 10.21% in premarket trading, driven by the company's strong first-quarter earnings report. Cloudflare announced a significant $100 million contract and the longest-term SASE contract to date, highlighting its growing momentum and scale. The company reported revenue of $479.1 million, surpassing Street forecasts, and expects revenue in the range of $500 million to $501 million for the current quarter.