Why Fastly Stock Is Plummeting Today
Fastly (NYSE: FSLY) stock is sinking rapidly in Thursday's trading. The edge-computing specialist's share price was down 22.1% as of noon ET despite the S 500 index being up 0.5% and the Nasdaq Composite being up 0.8% at the same time. The stock had been down as much as 25.9% earlier in the session.
Fastly reported its fourth-quarter results yesterday, posting sales that beat the market's expectations and earnings that fell short of Wall Street's target. But while the company posted a revenue beat in Q4, its forward guidance has investors feeling bearish.
Fastly recorded a non-GAAP (adjusted) loss per share of $0.03 on revenue of $140.57 million in the fourth quarter. For comparison, the average Wall Street estimate had called for the business to post a break-even quarter on sales of $138.63 million.
Source Fool.com
