SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Cloudflare, Inc. (NET) on Thursday reported a loss of $22.9 million in its first quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 7 cents. Earnings, adjusted for one-time gains and costs, were 25 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The web security and content delivery company posted revenue of $639.8 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $621.9 million.
For the current quarter ending in June, Cloudflare expects its per-share earnings to be 27 cents.
The company said it expects revenue in the range of $664 million to $665 million for the fiscal second quarter.
Cloudflare expects full-year earnings in the range of $1.19 to $1.20 per share, with revenue expected to be $2.81 billion.
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