Stock Track | Fastly Soars Nearly 7% as Q3 Earnings Beat Estimates, Guidance Raised

Stock Track11-07

Shares of Fastly, Inc. (NYSE: FSLY) surged by 6.98% on November 6, 2024, as the cloud software developer reported better-than-expected third-quarter results and raised its full-year guidance, fueling optimism about the company's growth prospects.

For the third quarter ended September 2024, Fastly reported adjusted earnings per share of $0.02, significantly exceeding the Zacks Consensus Estimate of a loss of $0.06 per share. The company's revenue also came in at $137.21 million, surpassing the consensus estimate of $131.88 million and representing a 7.35% year-over-year increase.

Fastly's strong performance was driven by robust demand for its content delivery network (CDN) and cloud security services. The company highlighted record non-GAAP revenue from its enterprise customers, indicating a growing adoption of its offerings among businesses seeking to enhance their digital experiences and secure their online presence.

Encouraged by the solid third-quarter results, Fastly raised its full-year 2024 revenue guidance to a range of $539 million to $543 million, up from the previous range of $530 million to $540 million. This revised outlook exceeded the consensus estimate of $535.02 million, further boosting investor confidence in the company's growth trajectory.

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(NYSE: FSLY) surged by 6.98% on November 6, 2024, as the cloud software developer reported better-than-expected third-quarter results and raised its full-year guidance, fueling ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FSLY","symbol_name":"Fastly, Inc.","start_time":0,"source_url":"","article_id":"1167799573","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1167799573","pubTimestamp":1730940416,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Fastly, Inc.  surged by 6.98% on November 6, 2024, as the cloud software developer reported better-than-expected third-quarter results and raised its full-year guidance, fueling optimism about the company's growth prospects.For the third quarter ended September 2024, Fastly reported adjusted earnings per share of $0.02, significantly exceeding the Zacks Consensus Estimate of a loss of $0.06 per share. 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