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Fastly
shares are buying and selling sharply decrease after the content material supply community operator posted strong outcomes for the fourth quarter, however supplied steerage for 2022 that fell shy of Street estimates.
Fastly inventory has tumbled 30%, to $20.15, in premarket buying and selling.
For the quarter, Fastly (ticker: FSLY) posted income of $97.7 million, up 13% from a 12 months in the past, forward of the Street consensus at $92.5 million. The firm had a non-GAAP loss within the quarter of 10 cents a share, which was narrower than the Street forecast for a lack of 16 cents a share. Under typically accepted accounting ideas, the corporate misplaced $57.5 million, or 49 cents a share.
For the total 12 months, Fastly reported income of $354.3 million, up 22%, with a non-GAAP lack of 48 cents a share.
For the March quarter, Fastly sees income of $97 million to $100 million, with a non-GAAP lack of 13 to fifteen cents a share; Street consensus had referred to as for $98 million and a lack of 13 cents.
The concern for the inventory is clearly full-year steerage. Fastly sees income of $400 million to $410 million, on the midpoint development of 14%. The firm sees a non-GAAP loss for the total 12 months of fifty to 60 cents a share. Street consensus had been $419 million and a lack of 48 cents a share.
Write to Eric J. Savitz at eric.savitz@barrons.com