Fastly Shares Fall More Than 20% After Third-Quarter Results
Photo: TokenPost
Fastly shares fell more than 20% by noon ET Thursday, Nov. 5, after the company released third-quarter results Wednesday evening, Nov. 4. The results topped estimates for revenue, earnings per share, gross margin and operating margin. Revenue totaled $190.193 million for the quarter ended Sept. 30, up 20% from $158.223 million a year earlier. Growth was 23% in the second quarter, when revenue reached $183.3 million, so the annual growth rate slowed even as quarterly revenue increased. Fastly provides edge-cloud services for websites, applications and APIs, along with security and computing services. On Nov.
Source: TokenPost
