Fastly Sees Q1 Adj. EPS ($0.09)-($0.05) vs $(0.03) Est., Total Revenue $131M-$135M vs $135.46M Est.; Sees FY24 Adj. EPS $(0.06)-$0.00 vs $(0.03) Est., Total Revenue $580M-$590M vs $586.23M Est.
Portfolio Pulse from Benzinga Newsdesk
Fastly provided its Q1 and FY24 earnings guidance, expecting lower adjusted EPS and revenue than estimated. For Q1, it anticipates an adjusted EPS between ($0.09) and ($0.05), compared to the estimate of ($0.03), and total revenue between $131M and $135M, against the $135.46M estimate. For FY24, the adjusted EPS is forecasted between ($0.06) and $0.00, versus the ($0.03) estimate, with total revenue projected between $580M and $590M, compared to the $586.23M estimate.
February 14, 2024 | 9:58 pm
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Fastly expects lower Q1 and FY24 earnings and revenue than analysts estimated, indicating potential short-term negative impact on its stock price.
Fastly's guidance for both Q1 and FY24 falls short of analysts' expectations, which typically leads to negative investor sentiment and could result in a decrease in stock price in the short term. The company's anticipation of lower adjusted EPS and revenue signals potential challenges ahead, possibly affecting investor confidence.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100