Cloudflare: 1Q Earnings Snapshot

SAN FRANCISCO (AP) _ Cloudflare, Inc. (NET) on Thursday reported a loss of $32.7 million in its first quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 11 cents. Losses, adjusted for one-time gains and costs, were 4 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The web security and content delivery company posted revenue of $91.3 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $87.3 million.

For the current quarter ending in July, Cloudflare expects its results to range from a loss of 6 cents per share to a loss of 5 cents per share.

The company said it expects revenue in the range of $93.5 million to $94.5 million for the fiscal second quarter.

Cloudflare expects full-year results to range from a loss of 21 cents per share to a loss of 19 cents per share, with revenue ranging from $389 million to $393 million.

Cloudflare shares have increased 73% since the beginning of the year.

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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 NET at https://www.zacks.com/ap/NET