Fastly: 3Q Earnings Snapshot

·1 min read

SAN FRANCISCO (AP) _ Fastly Inc. (FSLY) on Wednesday reported a loss of $23.8 million in its third quarter.

The San Francisco-based company said it had a loss of 22 cents per share. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, came to 4 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The cloud software developer posted revenue of $70.6 million in the period, meeting Street forecasts.

For the current quarter ending in December, Fastly expects its results to range from a loss of 12 cents per share to a loss of 8 cents per share.

The company said it expects revenue in the range of $80 million to $84 million for the fiscal fourth quarter.

Fastly expects full-year results to range from a loss of 21 cents per share to a loss of 17 cents per share, with revenue ranging from $288.2 million to $292.2 million.

Fastly shares have more than tripled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $71.61, more than tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSLY at https://www.zacks.com/ap/FSLY