Fastly shares sink 30% on weaker guidance
By Denny Jacob
Fastly shares (FSLY) dived 30% in afterhours trading following guidance for the second-quarter and 2024.
Shares were trading around $9.05. The stock is down 27% on the year through Wednesday's close.
The company, which provides real-time content delivery network services, forecast second-quarter revenue between $130 million and $134 million as well adjusted loss per-share between 6 cents and 10 cents. Analysts polled by FactSet expected $140.4 million in revenue and an adjusted loss of 2 cents a share.
For 2024, Fastly guided for revenue between $555 million and $565 million as well adjusted loss per-share between 6 cents and 12 cents. Analysts polled by FactSet expected $584.7 million in revenue and an adjusted loss of 4 cents a share.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
05-01-24 1802ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
What Does Nvidia’s Stock Split Mean for Investors?
-
5 Undervalued Stocks to Buy as Their Stories Play Out
-
Markets Brief: Return of the Meme Stocks
-
What’s Happening In the Markets This Week
-
It’s Been a Terrible Time for Bonds. Here’s Why You Should Own Them
-
Which AI Stocks Are Turning Hype Into Revenue?
-
Best- and Worst-Performing Stocks of May 2024
-
3 Stocks to Buy and 3 Stocks to Sell in June
-
What Does Broadcom’s Stock Split Mean for Investors?
-
5 Ultracheap Stocks to Buy With the Best Returns on Investment
-
Broadcom Earnings: AI Sales Growth Accelerates
-
Oracle Earnings: IaaS Signings More Than Make Up for Miss
-
This Undervalued Stock Is a Buy After Its Dividend Increase
-
After Earnings, Is Nio Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Lululemon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks