Fastly Earnings: FSLY Stock Surges 46% Higher on Q1 Beat, Outlook

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Fastly (NYSE:FSLY) earnings for first quarter of 2020 have FSLY stock taking off on Thursday. That’s thanks to its adjusted losses per share of 6 cents beating out Wall Street’s estimate of 12 cents. The cloud computing company’s revenue of $62.92 million is also better than analysts’ estimates of $59.38 million.

Fastly Earnings: FSLY Stock Surges 47% Higher on Q1 Beat, Outlook

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Here are some additional highlights from the most recent Fastly earnings report.

  • Adjusted per-share losses are 80% better than the 30 cents from the first quarter of 2019.
  • Revenue for the quarter comes in 38% higher compared to $45.56 million during the same time last year.
  • Operating loss of $11.98 million is 48% wider year-over-year than $8.08 million.
  • The Fastly earnings report also has its net loss coming in at $11.99 million.
  • That’s 23% worse than the company’s net loss of $9.73 million from the same period of the year prior.

Joshua Bixby, CEO of Fastly, said this about the Q1 earnings:

“We generated $63 million in revenue, up 38% year-over-year, and increased our enterprise customer count to 297 from 288 in the previous quarter. We continued to drive expansion within our customer base with a DBNER of 133% and our average enterprise customer spend continued to increase to $642,000 from $607,0001 in the previous quarter.”

Fastly also provides a 2020 guidance update in its current earnings report. It expects adjusted losses per share between 15 cents and 8 cents on revenue of $280 million to $290 million. That’s looking good next to Wall Street’s estimates of losses of 40 cents per share and revenue of $259.6 million.

FSLY stock was up 45.7% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/05/fastly-earnings-send-fsly-stock-soaring/.

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