More Than Half of Cloudflare's Network Traffic Is No Longer Human. The Stock Broke to a Record on It.

CEO Matthew Prince said more than 50% of the traffic across Cloudflare's network in the second quarter was not human, a first.

Second-quarter revenue rose 36% year over year to $696.1 million.

Shares touched a record high Friday morning before giving back part of the gain.

More than half of the traffic that crossed Cloudflare's (NYSE: NET) network last quarter came from machines, not people -- the first time automated traffic has been the majority.

Shares of the internet-infrastructure company jumped to a record high Friday morning after Thursday's second-quarter report, touching about $325 before giving back part of the day's gain. Shares were still up about 8% for the day as of this writing.

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »

"For the first time in human history, in Q2, more than 50% of the traffic flowing across Cloudflare's network was not human," CEO Matthew Prince said on the earnings call. The crossover arrived months ahead of his own forecast, which had pointed to the first half of 2027.

With this backdrop, revenue rose 36% year over year to $696.1 million, and Cloudflare raised its full-year revenue outlook to a range of $2.864 billion to $2.870 billion, about 32% growth. Adjusted earnings per share came in at $0.29, and free cash flow climbed 69% year over year to $56.4 million. For the third quarter, management guided to revenue of $736 million to $737 million, about 31% growth.