SAN FRANCISCO (AP) _ Cloudflare, Inc. (NET) on Thursday reported a loss of $40 million in its first quarter.

The San Francisco-based company said it had a loss of 13 cents per share. Losses, adjusted for one-time gains and costs, came to 3 cents per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for a loss of 3 cents per share.

The web security and content delivery company posted revenue of $138.1 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $131.3 million.

For the current quarter ending in July, Cloudflare expects its results to range from a loss of 4 cents per share to a loss of 3 cents per share.

The company said it expects revenue in the range of $145.5 million to $146.5 million for the fiscal second quarter.

Cloudflare expects full-year results to range from a loss of 11 cents per share to a loss of 10 cents per share, with revenue ranging from $612 million to $616 million.

Cloudflare shares have fallen 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $69.07, more than doubling in the last 12 months.

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

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