Why Fastly Stock Was Zooming Higher This Week
Edge computing specialist Fastly (NYSE: FSLY) was hardly in the margins for many investors over the past few days.
Thanks largely to a beat-and-raise second quarter that generated an analyst recommendation upgrade, plus a C-suite transition that appeared smooth, the company's stock moved well higher across that stretch. According to data compiled by S&P Global Market Intelligence, Fastly's share price had increased by more than 17% week to date as of early Friday morning.
For its second quarter, Fastly notched record revenue of almost $149 million, bettering the same period of 2024 by 12%. The company also managed to narrow its non-GAAP (adjusted) net loss to $5 million ($0.03 per share) from slightly more than $8 million in the year-ago quarter.
Source Fool.com
