Here's How Fastly Shares Doubled Last Month
Shares of edge cloud computing specialist Fastly (NYSE: FSLY) gained 99.3% in May 2020, according to data from S&P Global Market Intelligence. The bulk of Fastly's gains last month sprung from a fantastic first-quarter earnings report.
Fastly's first-quarter revenue rose 38% year over year, landing at $63 million. Adjusted net losses shrank from $0.30 to $0.06 per share. Your average Wall Street analyst would have settled for a net loss of $0.12 per share on sales near $59 million. The company saw rising order volumes as businesses of every stripe explored remote work options under COVID-19 social distancing orders. The stock closed 46% higher the next day, and the momentum from that jump continued to carry Fastly's shares higher throughout the month.
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Source Fool.com
