Fastly falls after annual revenue forecast cut

Fastly

01/05/2024 22:29

** Content-delivery network company Fastly's  FSLY.N  shares
down ~31% at $8.99 after the bell
    ** Company cuts annual rev. forecast; expects FY24 rev. in
range of $555 mln to $565 mln vs earlier forecast of $580 mln to
$590 mln
    ** Expects annual loss per share to be in the range of 12
cents to 6 cents vs prior forecast of loss of 6 cents per share
to flat
    ** Company posts Q1 rev. of $133.5 mln vs earlier forecast
of $131 mln - $135 mln
    ** Up to last close, stock fell nearly 27% YTD
    

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))