AP NEWS

Proofpoint: 1Q Earnings Snapshot

May 7, 2020 GMT

SUNNYVALE, Calif. (AP) _ Proofpoint Inc. (PFPT) on Thursday reported a loss of $74.2 million in its first quarter.

The Sunnyvale, California-based company said it had a loss of $1.30 per share. Earnings, adjusted for stock option expense and pretax expenses, came to 38 cents per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The data security company posted revenue of $249.8 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $246.6 million.

For the current quarter ending in July, Proofpoint expects its per-share earnings to range from 38 cents to 41 cents.

The company said it expects revenue in the range of $251 million to $255 million for the fiscal second quarter.

Proofpoint shares have climbed 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $132.40, an increase of 11% in the last 12 months.

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