Fastly Sees Q2 EPS $(0.10)-$(0.06) Vs $(0.02) Est.; Revenue $130M-$134M Vs $140.16M Est.; FY24 EPS $(0.12)-$(0.06) Vs $(0.03) Est.; Revenue $555M-$565M Vs $584.59M Est.
Portfolio Pulse from Benzinga Newsdesk
Fastly provided its Q2 and full year 2024 financial guidance, projecting lower than expected earnings per share (EPS) and revenue. For Q2, EPS is expected to be between $(0.10) and $(0.06), compared to an estimate of $(0.02), and revenue is forecasted to be between $130M and $134M, versus an estimate of $140.16M. For the full year, EPS is anticipated to be between $(0.12) and $(0.06), against an estimate of $(0.03), with revenue projected between $555M and $565M, compared to an estimate of $584.59M.
May 01, 2024 | 8:22 pm
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NEGATIVE IMPACT
Fastly projects lower than expected EPS and revenue for Q2 and full year 2024, indicating potential challenges ahead.
Fastly's guidance for both Q2 and the full year 2024 falls short of analyst estimates for EPS and revenue, suggesting potential operational or market challenges that could negatively impact its stock price in the short term. The significant deviation from expected figures highlights concerns over the company's performance and growth prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100