Why Fastly Stock Is Crashing Today
Fastly (NYSE: FSLY) stock is getting crushed in Thursday's trading. The content delivery network company's share price was down 30% as of 3 p.m. ET, according to data from S&P Global Market Intelligence.
Fastly published its fourth-quarter report after the market closed Wednesday, posting a beat on earnings but sales that fell significantly short of the market's expectations. Making matters worse, the company's guidance raised red flags -- and its chief architect sold shares.
Fastly posted non-GAAP (adjusted) earnings of $0.01 per share on revenue of $137.77 million. While the company's adjusted earnings came in significantly better than the average analyst's call for a loss of $0.02 per share, revenue missed Wall Street's consensus target of roughly $140 million.
Source Fool.com
