Fastly is a new Top Pick at Raymond James after earnings; Stock up 18%

) saw its stock gain more than 17.5% in early Thursday trade after the company narrowed its adjusted loss-per-share forecast for the year.

“I am pleased with the team’s progress and we’re proud of the operating performance this quarter, posting record revenue and positive adjusted EBITDA,” said Todd Nightingale, CEO of Fastly. Revenue is seen in the range between $137 million and $141 million, somewhere in line with the expectations of $140 million.

Moreover, the company's revenue for the quarter amounted to $127.8 million, topping the consensus estimate of $126.61 million.

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Fastly’s stock is up 10% on better-than-expected earnings, revenueJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
Source: MarketWatch - 🏆 3. / 97 Read more »

Fastly’s stock jumps 12% on better-than-expected earnings, revenueJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
Source: MarketWatch - 🏆 3. / 97 Read more »