SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Fastly Inc. (FSLY) on Wednesday reported a loss of $20.5 million in its first quarter.
The San Francisco-based company said it had a loss of 13 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The cloud software developer posted revenue of $173 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $171.7 million.
For the current quarter ending in June, Fastly expects its per-share earnings to range from 5 cents to 8 cents.
The company said it expects revenue in the range of $170 million to $176 million for the fiscal second quarter.
Fastly expects full-year earnings in the range of 27 cents to 33 cents per share, with revenue ranging from $710 million to $725 million.
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