[ad_1]
Fastly Inc FSLY shares are trading higher by 11.5% to $8.81 Thursday after the company reported better-than-expected third-quarter EPS and sales results and issued FY22 sales guidance above estimates.
What Happened?
Fastly reported quarterly losses of 14 cents per share which beat the analyst consensus estimate of a loss of 17 cents by 17.65 percent.
The company reported quarterly sales of $108.50 million which beat the analyst consensus estimate of $103.46 million by 5%. This is a 25% increase over sales of $86.73 million in the same period last year.
Fastly also sees fourth-quarter EPS in the range of a loss of 15 cents to a loss of 11 cents, which is greater than the analyst consensus estimate of 10 cents.
See Also: Why Alphabet Shares Hit A New 52-Week Low Today
Fastly sees fourth-quarter sales as low as $112 million or as high as $116 million, versus the analyst consensus estimate of $113.2 million.
Fastly sees FY22 EPS in the range of a loss of 67 cents to a loss of 63 cents, versus the analyst consensus estimate of a loss of 65 cents.
FY22 sales are meanwhile expected in the range of $425 million to $429 million, versus the analyst consensus estimate of $419.75 million.
According to data from Benzinga Pro, Fastly has a 52-week high of $58.62 and a 52-week low of $7.32.
[ad_2]
Image and article originally from www.benzinga.com. Read the original article here.