Fastly Sinks 30% In Pre-market On Guiding Annual Results Below View

(RTTNews) - Shares of content delivery network provider, Fastly, Inc. (FSLY) are down more than 30% in pre-market on Thursday after the company guided full year results below the Street estimates.

The fourth-quarter results however came in above the consensus estimates.

For the full year, revenue is expected between $400 million and $410 million. Adjusted loss per share is expected to be in the range of $0.60-$0.50. On average, 13 analysts polled by Thomson Reuters expect the company to report loss of $0.48 per share on revenue of $418.98 million.

Looking forward to the first quarter, the company sees revenue in the range of $97 million-$100 million. Adjusted loss per share is expected to be in the range of $0.15-$0.13. The consensus estimate for revenue stands at $97.98 million and for loss is at $0.13 per share.

The company reported net loss of $57.52 million or $0.49 per share in the fourth quarter, wider than net loss of $45.7 million or $0.40 per share last year.

Excluding one-time items, loss was $0.10 per share, that beat the analysts' expectation of $0.16 loss per share.

Revenue for the quarter increased to $97.72 million from $82.65 million in the same quarter a year ago. The consensus estimate was for $92.5 million.

Fastly stock closed at $28.93, down $0.57 or 1.93% on Wednesday. It is currently trading at $19.74 in pre-market.