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SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Fastly Inc. (FSLY) on Wednesday reported a loss of $44.7 million in its first quarter.
The San Francisco-based company said it had a loss of 36 cents per share. Losses, adjusted for stock option expense and amortization costs, were 9 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The cloud software developer posted revenue of $117.6 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $116.2 million.
For the current quarter ending in June, Fastly expects its results to range from a loss of 11 cents per share to a loss of 9 cents per share.
The company said it expects revenue in the range of $117 million to $120 million for the fiscal second quarter.
Fastly expects full-year results to range from a loss of 27 cents per share to a loss of 21 cents per share, with revenue ranging from $495 million to $505 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a FSLY">Zacks stock report on FSLY at https://www.zacks.com/ap/FSLY