Fastly Sees Q3 Revenue $130M-$134M vs $140.06M Est., Non-GAAP EPS $(0.08)-$(0.03) vs $(0.02) Est.; Sees FY24 Revenue $530M-$540M vs $558.32M Est., Non-GAAP EPS $(0.16)-$(0.11) vs $(0.11) Est.
Portfolio Pulse from Benzinga Newsdesk
Fastly (FSLY) has provided its Q3 and FY24 financial guidance, which falls short of analysts' estimates. The company expects Q3 revenue between $130M-$134M, below the estimated $140.06M, and a non-GAAP EPS of $(0.08)-$(0.03), compared to the estimated $(0.02). For FY24, Fastly projects revenue of $530M-$540M, missing the $558.32M estimate, and a non-GAAP EPS of $(0.16)-$(0.11), versus the $(0.11) estimate.
August 07, 2024 | 8:36 pm
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NEGATIVE IMPACT
Fastly's Q3 and FY24 financial guidance falls short of analysts' estimates, indicating potential challenges in revenue growth and profitability.
The lower-than-expected revenue and EPS guidance for both Q3 and FY24 suggest that Fastly may face difficulties in achieving growth and profitability targets. This is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100