MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Confluent Inc. (CFLT) on Wednesday reported a loss of $152.6 million in its first quarter.
The Mountain View, California-based company said it had a loss of 52 cents per share. Losses, adjusted for stock option expense and restructuring costs, came to 9 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The data infrastructure software maker posted revenue of $174.3 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $167.1 million.
For the current quarter ending in June, Confluent expects its results to range from a loss of 8 cents per share to a loss of 6 cents per share.
The company said it expects revenue in the range of $181 million to $183 million for the fiscal second quarter.
Confluent expects full-year results to range from a loss of 20 cents per share to a loss of 14 cents per share, with revenue ranging from $760 million to $765 million.
Confluent shares have declined 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.96, a decline of 35% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CFLT at https://www.zacks.com/ap/CFLT
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