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Fastly Swings to Q1 Adjusted Earnings as Revenue Rises; Shares Tumble After Hours

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Fastly (FSLY) reported Q1 adjusted earnings late Wednesday of $0.13 per diluted share, compared with the loss of $0.05 a year earlier.

Analysts polled by FactSet expected earnings of $0.08.

Revenue in the three months ended March 31 rose to $173 million from $144.5 million a year earlier.

Analysts surveyed by FactSet expected $171.8 million.

Fastly expects Q2 non-GAAP net income of $0.05 to $0.08 a share on revenue of $170 million to $176 million. Analysts polled by FactSet project EPS of $0.04 on revenue of $169.8 million.

The company expects full-year non-GAAP net income of $0.27 to $0.33 a share on revenue of $710 million to $725 million. Analysts project EPS of $0.27 on revenue of $712 million.

Fastly shares tumbled 28% in after-hours trading.

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