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Fastly Shares Tumbled 26% in Premarket Trading

Tiger Newspress2022-02-17

Fastly shares tumbled 26% in premarket trading.

Though the company's fourth-quarter revenue and adjusted loss per share were both better than analysts' consensus forecasts for the two metrics, management's disappointing outlook may have spooked some investors.

Fortunately, fourth-quarter growth was better than expected, with Fastly's top line rising 13% year over year to $97.7 million, beating analysts' average forecast for revenue of $92.5 million. The company's adjusted loss per share of $0.10 was also notably narrower than analysts' average estimate for a loss per share of $0.16.

Customer count at the end of the quarter was 2,804 -- up from 2,748 in the third quarter of 2021 and 2,326 in the year-ago period. But the year-over-year growth in customers was helped by the company's new customers from its acquisition of security specialist Signal Sciences.

Despite reporting solid fourth-quarter results relative to expectations, the company's guidance for 2022 revenue to be between $400 million and $410 million was below analysts' average forecast for revenue of $419 million. In addition, the company's expectations for its profitability in 2022 disappointed. Fastly said it expects its adjusted loss per share to be between $0.50 and $0.60 this year -- wider than a consensus forecast for $0.48.

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Comment17

  • TitusK
    ·2022-02-17
    Lousy stock again
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  • MNCoffee
    ·2022-02-17
    wow
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  • Alihuat
    ·2022-02-17
    Luckily i got rid of this stock and its options.... 
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  • Evey77
    ·2022-02-17
    [LOL] [Surprised] [Spurting] [Anger] 
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  • ShadowBan
    ·2022-02-17
    ooo sad
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  • Shahfarid
    ·2022-02-17
    Too bad
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  • Maky
    ·2022-02-17
    Another tech stock tumbled cos didn't meet market expectations 
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  • Ignis
    ·2022-02-17
    Dan
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  • TobyAw
    ·2022-02-17
    Now is the Entry time 
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  • Deonc
    ·2022-02-17
    $Fastly, Inc.(FSLY)$‌Why  the company's guidance for 2022 revenue to be between $400 million and $410 million was below analysts' average forecast for revenue of $419 million
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  • masran
    ·2022-02-17
    oh no
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  • rL
    ·2022-02-17
    [Sweats] [Cry] 
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  • YCLim
    ·2022-02-17
    Omg
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  • whereareyou
    ·2022-02-17
    Oh no.. [Spurting] 
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  • Coyotero
    ·2022-02-17
    Crazy....
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  • Heng08
    ·2022-02-17
    Noted 
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  • Alfred8189
    ·2022-02-17
    Ok
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