Markets

Stock Alert: Fastly Tanks 27% After Revising Down Q3 Sales Outlook

(RTTNews) - Fastly, Inc. (FSLY) shares are sliding on Thursday morning trade as the company said on Wednesday that expects third-quarter sales to be lower than its previous outlook, due to customer-specific factors.

Fastly now expects the third-quarter revenue of $70 million to $71 million, compared to its earlier view of $73.5 million to $75.5 million.

The company is scheduled to report its third-quarter results on October 28th.

Currently, the shares are at $88.93, down 27.80 percent from its previous close of $123.18 on 12,444,073. For the 52-week, period, the shares have traded in a range of $10.63 to $136.50 on average volume of 9,636,555.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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