Why Fastly Stock Surged Higher on Thursday
Shares of edge computing specialist Fastly (NYSE: FSLY) surged on Thursday. As of noon ET today, shares were up about 20%.
The stock's gain comes after the tech company reported better-than-expected fourth-quarter results. Not only did Fastly's quarterly revenue and loss per share come in better than expected, but guidance also was ahead of analysts' consensus forecast.
Fastly's fourth-quarter revenue increased 22% year over year, growing to more than $119 million. That exceeded the high end of management's guidance range and surpassed analysts' average estimate for revenue of about $115 million.
Source Fool.com
