SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Cloudflare, Inc. (NET) on Thursday reported a loss of $35.5 million in its first quarter.
The San Francisco-based company said it had a loss of 10 cents per share. Earnings, adjusted for one-time gains and costs, were 16 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The web security and content delivery company posted revenue of $378.6 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $372.9 million.
For the current quarter ending in June, Cloudflare expects its per-share earnings to be 14 cents.
The company said it expects revenue in the range of $393.5 million to $394.5 million for the fiscal second quarter.
Cloudflare expects full-year earnings in the range of 60 cents to 61 cents per share, with revenue expected to be $1.65 billion.
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