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Fastly, Inc. (NYSE:FSLY) reported its first-quarter financial results after the bell Wednesday. Here's a look at the details.
The Details: Fastly reported quarterly sales of $133.52 million which beat the analyst consensus estimate of $133.1 million and represents a 13.57% increase over sales of $117.56 million from the same period last year.
The company reported quarterly losses of 5 per share which beat the analyst consensus estimate of losses of 6 cents by 16.67%.
Total customer count was 3,290 in the first quarter, up 47 from the fourth quarter of 2023. Enterprise customers totaled 577 in the first quarter, down 1 from the fourth quarter of 2023.
“I am pleased with the first quarter operating performance, posting non-GAAP operating loss above our guidance and positive cash flow from operations,” said Todd Nightingale, CEO of Fastly. “But, we’re not satisfied with our revenue growth outlook.”
Outlook: Fastly sees second-quarter losses between 6 cents and 10 cents per share, versus the losses of 2 cents per share estimate. The company expects second-quarter revenue in a range of $130 million and $134 million, versus the $140.16 million analyst estimate.
The company sees full-year 2024 losses of between 6 cents and 12 cents per share, versus the loss of 3 cents estimate, and full-year revenue in a range of $555 million and $565 million, versus the $584.59 million estimate.
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FSLY Price Action: According to Benzinga Pro, Fastly shares are down 29.85% after-hours at $0.07 at the time of publication Wednesday.
Photo: Csaba Nagy from Pixabay
Posted In: FSLY
