Why Fastly Shares Are Popping Off

Why Fastly Shares Are Popping Off

Fastly Inc FSLY shares are trading higher by 11.5% to $8.81 Thursday after the company reported better-than-expected third-quarter EPS and sales results and issued FY22 sales guidance above estimates.

What Happened?

Fastly reported quarterly losses of 14 cents per share which beat the analyst consensus estimate of a loss of 17 cents by 17.65 percent.

The company reported quarterly sales of $108.50 million which beat the analyst consensus estimate of $103.46 million by 5%. This is a 25% increase over sales of $86.73 million in the same period last year.

Fastly also sees fourth-quarter EPS in the range of a loss of 15 cents to a loss of 11 cents, which is greater than the analyst consensus estimate of 10 cents.

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Fastly sees fourth-quarter sales as low as $112 million or as high as $116 million, versus the analyst consensus estimate of $113.2 million.

Fastly sees FY22 EPS in the range of a loss of 67 cents to a loss of 63 cents, versus the analyst consensus estimate of a loss of 65 cents. 

FY22 sales are meanwhile expected in the range of $425 million to $429 million, versus the analyst consensus estimate of $419.75 million.

According to data from Benzinga Pro, Fastly has a 52-week high of $58.62 and a 52-week low of $7.32.

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