Fastly's 1Q Guidance Disappoints; Shares Sink Over 15%
Shares of Fastly dropped 15.5% yesterday after the cloud computing services provider offered 1Q 2021 guidance that missed the Street’s estimates. However, the company delivered better-than-expected results for the fourth quarter. Fastly (FSLY) reported an adjusted loss of $0.09 per share, compared to a loss of $0.10 per share in the year-ago period. Analysts were anticipating a loss of $0.11 per share. The company’s adjusted gross margin expanded 610 basis points to 63.7%, driven by continued scale and the acquisition of Signal Sciences. Its 4Q revenues of about $82.6 million spi...
Source: yahoo.com