Fastly Inc (NASDAQ:FSLY) is trading lower on Thursday as traders digest first-quarter results and updated guidance after sharp post-earnings reset. Here’s what investors need to know.
- Fastly shares are consolidating. What’s the outlook for FSLY shares?
Double Beat Sparks Thursday Selloff
Fastly posted first-quarter revenue of $173.02 million versus $170.26 million expected and adjusted EPS of 13 cents versus eight cents expected, but the stock sold off hard after the release. Management also guided second-quarter revenue to $170 million to $176 million and second-quarter adjusted EPS to a range of five cents to eight cents, while lifting full-year revenue guidance to $710 million to $725 million and full-year adjusted EPS to 27 cents to 33 cents.
Fastly’s first-quarter total revenue rose 20% year over year, with CEO Kip Compton pointing to a “47% year-over-year security revenue growth” tied to expansion in the installed base and new business wins.
Fastly Shares Plunge Thursday Morning
FSLY Stock Price Activity: Fastly shares were trading lower by 35.89% at $20.24 at the time of publication on Thursday, according to Benzinga Pro data.
Image: Shutterstock
Recent Comments