Shares of Confluent (NASDAQ: CFLT), a data streaming company, were rising fast today after the company reported better-than-expected results for its first quarter and issued strong guidance for the full year. 

The tech stock was up by 12.7% as of 11:36 a.m. ET. 

Confluent's sales rose 38% in the first quarter to $174 million, which was higher than Wall Street's consensus estimate of $167 million for the quarter. Additionally, the company's non-GAAP (adjusted) loss of $0.09 was better than analysts' average estimate of a loss of $0.14 per share. 

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Source Fool.com