Cloudflare Inc. shares recovered some of Thursday’s losses in the extended session after the cybersecurity company’s revenue and sales forecast came in higher than Wall Street expected.
Cloudflare NET,
The company reported a first-quarter loss of $40 million, or 13 cents a share, compared with a loss of $32.7 million, or 11 cents a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was 3 cents a share, compared with a loss of 4 cents a share in the year-ago period.
Revenue rose to $138.1 million from $91.3 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast a loss of 3 cents a share on revenue of $131 million.
Cloudflare expects an adjusted loss of 4 cents to 3 cents a share on revenue of $145.5 million to $146.5 million for the second quarter, while analysts had forecast a loss of 3 cents a share on revenue of $139.1 million.
For the year, the company forecast an adjusted loss of 11 cents to 10 cents a share on revenue of $612 million to $616 million, while analysts estimate a loss of 9 cents a share on revenue of $592.8 million.
