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Fastly: Q2 Earnings Snapshot
By AP News - Aug 08, 2024, 10:05 AM ET
Last Updated - Aug 08, 2024, 10:05 AM EDT
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Fastly Inc. (FSLY) on Wednesday reported a loss of $43.7 million in its second quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 32 cents. Losses, adjusted for stock option expense and amortization costs, were 7 cents per share.
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The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The cloud software developer posted revenue of $132.4 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $131.6 million.
For the current quarter ending in September, Fastly expects its results to range from a loss of 8 cents per share to a loss of 3 cents per share.
The company said it expects revenue in the range of $130 million to $134 million for the fiscal third quarter.
Fastly expects full-year results to range from a loss of 16 cents per share to a loss of 11 cents per share, with revenue ranging from $530 million to $540 million.
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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 FSLY at https://www.zacks.com/ap/FSLY
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