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Cloudfare Slips After Equipment Causes International Net Outage

Shares of Cloudfare slid in after-hours trading Friday after problems at the internet infrastructure and security company resulted in outages for sites that depend on the technology.

Shares fell 49 cents, or 1.3%, to $36.53 in after-hours action after gaining 5.5% in the regular session.

The company said in a statement “it appears a router on our global backbone announced bad routes and caused some portions of the network to not be available. We believe we have addressed the root cause and are monitoring systems for stability now.”

The problem affected data centers in San Jose, Calif., Seattle, Atlanta, London, Amsterdam, Frankfurt and Paris, among other, according to the statement.

The company said the problem “was not as a result of an attack.”

Cloudflare CEO Matthew Prince tweeted that the company had “confirmed that the issue was caused by a mistaken configuration we were applying to a router during a routine update. There was no attack. It was not a failure of the router software.” He added that the problem “Appears to have impacted about 50% of our traffic for a bit over 20 min.”

The outages affected a wide variety of sites according to published reports, including Politico, chat app Discord, Minecraft, and Amazon Web Services.

Cloud stocks were generally higher Friday.

The Global X Cloud Computing ETF rose 20 cents, or 0.93%, to $21.76.

The First Trust Cloud Computing ETF rose 66 cents, or 0.89%, to $74.75.

Among notable small- and medium-cap stocks in the cloud sector, 18 rose while 2 fell.

Twilio shares led gainers, rising $16.19, or 7.28%, to $238.57.

ANGI Homeservices shares fell 21 cents, or 1.38%, to $15.04.