Here's Why Fastly Stock Plunged Today
Shares of Fastly (NYSE: FSLY) dropped 10.4% on Thursday after the edge-computing platform delivered disappointing second-quarter results and offered a tepid full-year sales forecast.
Fastly's revenue rose 14% year over year to $85 million. That was slightly below Wall Street's expectations for revenue of $85.7 million.
The shortfall was driven in part by a global network outage on June 8. The outage impacted nearly all of Fastly's customers, many of which responded by sending less traffic through its network. Fastly issued credits to customers to mitigate the damage, which further weighed on its sales.
Source Fool.com
