MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Confluent Inc. (CFLT) on Wednesday reported a loss of $67.6 million in its first quarter.
The Mountain View, California-based company said it had a loss of 20 cents per share. Earnings, adjusted for one-time gains and costs, were 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The data infrastructure software maker posted revenue of $271.1 million in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $263.6 million.
For the current quarter ending in June, Confluent expects its per-share earnings to range from 8 cents to 9 cents.
The company expects full-year earnings to be 36 cents per share.
Confluent shares have dropped 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.77, a decline of 15% 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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