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Why Fastly Stock Plunged Today

TheMotleyFool

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Why Fastly Stock Plunged TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Shares of "broken IPO" Fastly (NYSE: FSLY) are taking another dive this morning after the cloud computing specialist announced significant revenue gains in its fiscal Q2 2019 report last night -- but also, significant losses. As of 10:45 a.m. EDT, the stock is down 23.8%.

Analysts expected Fastly to post an adjusted loss of about $0.13 per share on sales of $45.1 million. The good news is that sales came in ahead of estimates at $46.2 million. The bad news is that losses were also bigger than expected -- $0.16 per share pro forma, and $0.26 per share as reported under generally accepted accounting principles (GAAP).

Image source: Getty Images.

Source Fool.com

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