Why Fastly Stock Jumped on Thursday
Shares of Fastly (NYSE: FSLY) jumped on Thursday, rising about 17% as of 10:10 a.m. ET. Optimism for the stock grew following the edge computing company's better-than-expected second-quarter results, which featured revenue ahead of both management's guidance range and the consensus analyst forecast for the key metric.
Additionally, the tech company's loss per share narrowed significantly compared to the year-ago quarter as its improved operational discipline continues paying off.
Digging into the details, Fastly's top-line growth accelerated, rising 20% year over year -- up from 15% growth in Q1. Revenue for the period was approximately $123 million, beating analysts' average forecast for about $119 million. Meanwhile, Fastly's loss per share improved, narrowing from $0.14 in the year-ago quarter to $0.08. Similarly, Fastly's quarterly adjusted loss per share narrowed from $0.23 to $0.04 over the same period. The consensus forecast was for an adjusted loss per share of $0.10.
Source Fool.com
