SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Fastly Inc. (FSLY) on Wednesday reported a loss of $43.4 million in its first quarter.
The San Francisco-based company said it had a loss of 32 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 5 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The cloud software developer posted revenue of $133.5 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $133 million.
For the current quarter ending in June, Fastly expects its results to range from a loss of 10 cents per share to a loss of 6 cents per share.
The company said it expects revenue in the range of $130 million to $134 million for the fiscal second quarter.
Fastly expects full-year results to range from a loss of 12 cents per share to a loss of 6 cents per share, with revenue ranging from $555 million to $565 million.
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