Why Fastly Stock Dropped Today
Shares of Fastly (NYSE: FSLY) have dropped today, down by 7% as of 12:30 p.m. EST, after the company reported fourth-quarter earnings results. The edge cloud platform is also switching CEOs.
Revenue in the fourth quarter increased 44% to $59 million, which was ahead of the consensus estimate of $54.8 million. That all translated into an adjusted loss per share of $0.10, slightly better than the $0.11 per share in adjusted losses that analysts were expecting. Dollar-based net expansion rate was 136% and Fastly now has 288 enterprise customers.
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Source Fool.com
