Fastly: 1Q Earnings Snapshot
SAN FRANCISCO (AP) _ Fastly Inc. (FSLY) on Wednesday reported a loss of $12 million in its first quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 13 cents. Losses, adjusted for stock option expense, came to 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The cloud software developer posted revenue of $62.9 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $59.6 million.
For the current quarter ending in July, Fastly said it expects revenue in the range of $70 million to $72 million.
The company expects full-year results to range from a loss of 15 cents per share to a loss of 8 cents per share, with revenue ranging from $280 million to $290 million.
Fastly shares have climbed 15% since the beginning of the year.