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For the second quarter, the company expects revenues between $117 million and $120 million. Adjusted loss is anticipated in the range of 11-9 cents per share.
The Zacks Consensus Estimate for the second-quarter bottom line is currently pegged at a loss of 10 cents per share, unchanged in the past 30 days. The company reported a loss of 23 cents per share in the year-ago quarter.
The consensus mark for the top line is currently pegged at $118.69 million, suggesting growth of 15.77% from the year-ago quarter’s levels.
Fastly’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, the average surprise being 4.31%.
Let’s see how things are shaping up for the upcoming announcement:
Factors to Note
Fastly’s second-quarter performance is likely to have boosted momentum in its Next-Gen WAF portfolio, network service delivery and edge computing. An expanding clientele, driven by new and enhanced products, might have contributed to the to-be-reported quarter’s top line.
Solid contribution from its global partner network is likely to have driven FSLY’s quarterly performance. Its new partner program has been a catalyst in delivering greater flexibility, support and incentives, thereby winning businesses.
Fastly’s top line is likely to reflect gains from the significant support that the company provides to enterprises toward digital experiences and new technology releases. It’s expanding footprint across e-commerce, digital publishing, financial services and healthcare markets might have aided the to-be-reported quarter’s performance.
Fastly is likely to have experienced an increase in percentage of peering traffic, further reducing bandwidth costs. It expects to see continued improvements in its network investment capacity that is demanded by its traffic patterns.
However, persistent seasonal headwinds are expected to have hurt margin performance, customer retention, and new enterprise additions in the quarter to be reported.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Fastly has a Zacks Rank #2 but carries an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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Fastly (FSLY) to Report Q2 Earnings: What's in the Cards?
Fastly (FSLY - Free Report) is slated to release second-quarter 2023 results on Aug 2.
For the second quarter, the company expects revenues between $117 million and $120 million. Adjusted loss is anticipated in the range of 11-9 cents per share.
The Zacks Consensus Estimate for the second-quarter bottom line is currently pegged at a loss of 10 cents per share, unchanged in the past 30 days. The company reported a loss of 23 cents per share in the year-ago quarter.
The consensus mark for the top line is currently pegged at $118.69 million, suggesting growth of 15.77% from the year-ago quarter’s levels.
Fastly, Inc. Price and EPS Surprise
Fastly, Inc. price-eps-surprise | Fastly, Inc. Quote
Fastly’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, the average surprise being 4.31%.
Let’s see how things are shaping up for the upcoming announcement:
Factors to Note
Fastly’s second-quarter performance is likely to have boosted momentum in its Next-Gen WAF portfolio, network service delivery and edge computing. An expanding clientele, driven by new and enhanced products, might have contributed to the to-be-reported quarter’s top line.
Solid contribution from its global partner network is likely to have driven FSLY’s quarterly performance. Its new partner program has been a catalyst in delivering greater flexibility, support and incentives, thereby winning businesses.
Fastly’s top line is likely to reflect gains from the significant support that the company provides to enterprises toward digital experiences and new technology releases. It’s expanding footprint across e-commerce, digital publishing, financial services and healthcare markets might have aided the to-be-reported quarter’s performance.
Fastly is likely to have experienced an increase in percentage of peering traffic, further reducing bandwidth costs. It expects to see continued improvements in its network investment capacity that is demanded by its traffic patterns.
However, persistent seasonal headwinds are expected to have hurt margin performance, customer retention, and new enterprise additions in the quarter to be reported.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Fastly has a Zacks Rank #2 but carries an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Perion Network (PERI - Free Report) has an Earnings ESP of +5.14% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
PERI’s shares have gained 39.4% year-to-date. Perion Network is set to report its second-quarter 2023 results on Aug 2.
Fair Isaac (FICO - Free Report) has an Earnings ESP of +3.12% and a Zacks Rank of 3 at present.
Fair Isaac’s shares have returned 37.9% year to date. FICO is set to report its third-quarter fiscal 2023 results on Aug 2.
Etsy (ETSY - Free Report) has an Earnings ESP of +2.82% and a Zacks Rank #3.
Etsy’s shares have declined 16.8% year to date. ETSY is set to report second-quarter 2023 results on Aug 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.