Here is what J.J. Abrams said at Wondercon about a possible Cloverfield sequel.

“We’re working on one right now. The key obviously is with a sequel, certainly with this film, is that it had better not be a business decision. If you’re going to do something, it should be because you’re really inspired to do it. It doesn’t guarantee anything and it doesn’t mean that it’s gonna work, but it means you did what you did and not because you’re trying to make a buck. We have an idea for something that’s pretty cool that we’re playing with. It’s something that would be related to ‘Cloverfield’ and hopefully we’ll do something sooner than later, because the idea’s pretty sweet.”