Fastly Stock Gains 19% After Strong Q2 Results

(RTTNews) - Fastly, Inc. (FSLY) shares rose $4.47, or 19.43 percent, to $27.42 on Monday, after the edge cloud platform company reported strong second-quarter results, with revenue increasing 23 percent year over year to $183.32 million.

The stock opened at $22.45 and traded between $22.42 and $27.63 during the session on the Nasdaq. It has traded in a 52-week range of $6.70 to $34.82. Trading volume reached 8.07 million shares, compared with an average daily volume of 6.45 million shares.

Fastly's net loss narrowed to $14.43 million, or $0.10 per share, from $36.94 million, or $0.26 per share, a year earlier. Adjusted net income was $0.17 per share, compared with an adjusted loss of $0.03 per share last year. The company also raised its full-year outlook, citing continued business momentum.