Fastly Shares Plunge as Guidance Disappoints, Despite Solid Q2

Investing.com08-08

Fastly, Inc. (NYSE:FSLY) reported better-than-expected second quarter results on Wednesday, but shares tumbled 15.2% in after-hours trading as the company's guidance fell short of analyst expectations...

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(NYSE:FSLY) reported better-than-expected second quarter results on Wednesday, but shares tumbled 15.2% in after-hours trading as the company's guidance fell short of analyst expectations...</p>\n\n<a href=\"https://www.investing.com/news/stock-market-news/fastly-shares-plunge-19-as-guidance-disappoints-despite-solid-q2-93CH-3560546\">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":"https://www.investing.com/news/stock-market-news/fastly-shares-plunge-19-as-guidance-disappoints-despite-solid-q2-93CH-3560546","article_id":"1199620803","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1199620803","pubTimestamp":1723080757,"sourceInfo":{"source_id":"investingArticles_highlight","name":"Investing.com"},"weMediaInfo":null,"summary":"Fastly, Inc. (NYSE:FSLY) reported better-than-expected second quarter results on Wednesday, but shares tumbled 15.2% in after-hours trading as the company's guidance fell short of analyst expectations","collect":0,"end_time":0,"defaultTopTitle":"investing.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"FSLY":"Fastly, Inc."},"translate_title":"尽管第二季度业绩稳健，但由于指引令人失望，Fastly股价暴跌","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FSLY":1.1},"content_text":"Fastly, Inc. (NYSE:FSLY) reported better-than-expected second quarter results on Wednesday, but shares tumbled 15.2% in after-hours trading as the company's guidance fell short of analyst expectations.The edge cloud platform provider posted adjusted earnings per share of -$0.07, beating the consensus estimate of -$0.08. Revenue came in at $132.4 million, up 8% YoY and slightly above the $131.57 million analysts were expecting.However, Fastly's outlook for the third quarter and full year 2024 disappointed investors. The company forecast Q3 revenue of $130-134 million, well below the $140 million consensus. For the full year, Fastly now expects revenue of $530-540 million, down from its previous guidance and missing the $558 million analyst estimate.\"We continued to drive customer acquisition in the second quarter, achieving 4% sequential growth in Enterprise customer count,\" said CEO Todd Nightingale. \"However, we are experiencing demand challenges with some of our largest customers, and we are taking measures to align our cost structure accordingly.\"The company's enterprise customer count grew to 601 in Q2, up from 577 in Q1. 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