MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Confluent Inc. (CFLT) on Tuesday reported a loss of $93 million in its first quarter.
On a per-share basis, the Mountain View, California-based company said it had a loss of 30 cents. Earnings, adjusted for one-time gains and costs, were 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The data infrastructure software maker posted revenue of $217.2 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $211.6 million.
For the current quarter ending in June, Confluent expects its per-share earnings to range from 4 cents to 5 cents.
The company said it expects revenue in the range of $229 million to $230 million for the fiscal second quarter.
Confluent expects full-year earnings in the range of 19 cents to 20 cents per share, with revenue expected to be $957 million.
Confluent shares have risen 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.85, an increase of 23% in the last 12 months.
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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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