SAN FRANCISCO (AP) _ Fastly Inc. (FSLY) on Wednesday reported a loss of $14.5 million in its second quarter.
The San Francisco-based company said it had a loss of 14 cents per share. Earnings, adjusted for stock option expense, were 2 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The cloud software developer posted revenue of $74.7 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $71.7 million.
For the current quarter ending in October, Fastly expects its per-share loss to be 1 cent.
The company said it expects revenue in the range of $73.5 million to $75.5 million for the fiscal third quarter.
Fastly expects full-year results to range from a loss of 6 cents per share to a loss of 1 cent per share, with revenue ranging from $290 million to $300 million.
Fastly shares have increased fivefold since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $108.92, increasing fivefold in the last 12 months.