Shares of Fastly, Inc. (NYSE: FSLY) are surging 6.30% in pre-market trading on Thursday, building on the 5.31% after-hours gain following the release of the company's impressive first-quarter earnings report. The edge cloud platform provider outperformed analyst expectations on both earnings per share and revenue, demonstrating robust growth and improved financial performance.
Fastly reported a quarterly adjusted loss of $0.05 per share, beating the analyst consensus estimate of a $0.06 loss. The company's revenue for the quarter came in at $144.47 million, surpassing the expected $138.01 million by 4.68% and representing an 8.20% increase from the same period last year. The strong top-line growth was accompanied by a gross margin of 53.2%, indicating improved operational efficiency.
Adding to investor optimism, Fastly provided an upbeat outlook for both the second quarter and the full fiscal year. For Q2, the company anticipates adjusted earnings per share between -$0.08 and -$0.04. The full-year guidance projects adjusted earnings per share between -$0.13 and -$0.07, with revenue expected in the range of $585 million to $595 million. These projections suggest continued growth and potential for further improvement in financial performance, likely contributing to the stock's pre-market rally.
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