Latest News by Industry
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Fastly Inc. (FSLY) on Wednesday reported a loss of $38 million in its third quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 27 cents. Earnings, adjusted for stock option expense and restructuring costs, were 2 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The cloud software developer posted revenue of $137.2 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $131.9 million.
For the current quarter ending in December, Fastly expects its results to range from a loss of 2 cents per share to earnings of 2 cents per share.
The company said it expects revenue in the range of $136 million to $140 million for the fiscal fourth quarter.
Fastly expects full-year results to range from a loss of 12 cents per share to a loss of 8 cents per share, with revenue ranging from $539 million to $543 million.
_____
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