Fastly Stock Sinks Despite Strong Q2 Print — What to Know

Fastly Inc. (NASDAQ: FSLY ) posted its second-quarter results after Wednesday’s closing bell.

Shares fell despite the company’s strong results and raised fiscal guidance.

Here’s a look at the details inside the report.

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Fastly Q2 Details Fastly reported quarterly earnings of 15 cents per share, which beat the analyst consensus estimate of seven cents, according to Pro data.

Quarterly revenue of $183.32 million beat the Street estimate of $173.95 million and was up from $148.7 million in the same period last year.

The company highlighted record non-GAAP gross margin of 65.8% and LTM NRR of 117%, which reached the highest level in over three years. “Record second quarter results reflect strong execution and the deep trust customers place in our technology and our teams,” said Kip Compton, CEO of Fastly. “Our platform strategy is driving business momentum, giving us the confidence to raise our full-year outlook.” Read Also: Sandisk Stock Slides Despite Q4 Earnings Beat — Details Looking Ahead Fastly raised its fiscal year adjusted EPS guidance to between 50 and 54 cents, versus the 33 cent analyst estimate, and raised its revenue outlook to a range of $732 million to $746 million, versus the $718.59 million estimate.

FSLY Stock Price Activity: According to data Pro, Fastly stock was down 7.41% to $24.10 in Wednesday’s extended trading.

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