offline
Aug 5, 2021 10:47 AM EDT
Fastly Plummets as June Outage Leads to Revenue Miss and Reduced Forecast
Fastly's 'challenging 2021 worsened considerably,' one analyst says.
Rob Lenihan
Fastly (FSLY) - Get Report tumbled Thursday after an outage in June caused the cloud platform to miss second-quarter revenue expectations and reduce full-year guidance.
Shares of the San Francisco company were down 22.7% to $34.45 on Thursday.
Fastly posted a loss of 15 cents a share, compared with analysts' estimates of a loss of 17 cents. Revenue totaled $85 million, short of expectations of $85.7 million.
"In our second quarter, we managed through a significant outage that impacted our Q2 results and saw several customers delay their launch of new products, which will delay the timing of traffic coming on to our platform," CEO Joshua Bixby during the company's earnings call. "The outage and these delays will also have an impact on our Q3 and full-year outlook."..............
https://www.thestreet.com/investing/fast..._ven=YAHOO
Fastly Plummets as June Outage Leads to Revenue Miss and Reduced Forecast
Fastly's 'challenging 2021 worsened considerably,' one analyst says.
Rob Lenihan
Fastly (FSLY) - Get Report tumbled Thursday after an outage in June caused the cloud platform to miss second-quarter revenue expectations and reduce full-year guidance.
Shares of the San Francisco company were down 22.7% to $34.45 on Thursday.
Fastly posted a loss of 15 cents a share, compared with analysts' estimates of a loss of 17 cents. Revenue totaled $85 million, short of expectations of $85.7 million.
"In our second quarter, we managed through a significant outage that impacted our Q2 results and saw several customers delay their launch of new products, which will delay the timing of traffic coming on to our platform," CEO Joshua Bixby during the company's earnings call. "The outage and these delays will also have an impact on our Q3 and full-year outlook."..............
https://www.thestreet.com/investing/fast..._ven=YAHOO
__________________
