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Is Fastly Stock a Buy Now?

TheMotleyFool

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Is Fastly Stock a Buy Now?Photo, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/ec495607-1e17-40ee-a41d-7726313a9707.png

Fastly's (NYSE: FSLY) stock price plunged 18% on May 5 after the cloud computing services provider posted its first-quarter earnings report.

Its Q1 revenue rose 21% year over year to $102.4 million, which beat analysts' estimates by $3.4 million. However, its adjusted net loss widened from $13.6 million to $18.0 million, or $0.15 per share, and missed analysts' expectations by a penny. According to generally accepted accounting principles (GAAP), its net loss widened from $50.7 million to $64.3 million.

Image source: Getty Images.

Source Fool.com

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