World News – US – Fastly News: Why FSLY shares drop 28% today

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Fastly (NYSE: FSLY) made headlines Thursday after updating its guidance for Q3 2020, FSLY stock fell

A Fastly press release reveals the company now expects third-quarter revenue of $ 70 million to $ 71 million This is a drop from the company’s previous revenue forecast ( $ 73) $ 5- $ 75 million for the quarter

Unfortunately for FSLY stock, the new revenue forecast also doesn’t match Wall Street estimates Analysts are looking for a company to report third quarter revenue of $ 7357 in the year

To follow this new direction of the third quarter, the company is also withdrawing its previous forecast This includes the outlook for the company for the full year 2020, published in its report on the results for the second quarter of the year

Fastly press release says company to release third quarter 2020 earnings report after market close in October 28 At that time, the company will also provide guidance for the fourth quarter and full year 2020

“The current global environment has in some ways fueled our business, but also created areas of uncertainty Although our preliminary third quarter results reflect the challenges of a usage-based model, we believe that Fastly’s business fundamentals remain strong, as does demand for our platform « 

As of the publication date, William White does not have (neither directly nor indirectly) any position in any of the titles mentioned in this article

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FSLY stock

Global news – United States – Fastly News: Why FSLY stock is down 28% today



SOURCE: https://www.w24news.com/news/world-news-us-fastly-news-why-fsly-shares-drop-28-today/?remotepost=420358

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