Fastly (FSLY) reported earnings on Wed 4 Aug 21 (a/h)

 ** charts before earnings **

** charts after earnings **

Fastly beats by $0.03, misses on revs; guides Q3 and FY21 below consensus; co says its network experienced a global outage

• Reports Q2 (Jun) loss of $(0.15) per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of ($0.18); revenues rose 13.9% year/year to $85.03 mln vs the $85.98 mln S&P Capital IQ Consensus.
• Co issues downside guidance for Q3, sees EPS of $(0.21)-(0.18), excluding non-recurring items, vs. ($0.10) S&P Capital IQ Consensus; sees Q3 revs of $82-85 mln vs. $97.91 mln S&P Capital IQ Consensus.
• Co issues downside guidance for FY21, sees EPS of $(0.65)-(0.57), excluding non-recurring items, vs. ($0.43) S&P Capital IQ Consensus; sees FY21 revs of $340-350 mln vs. $382.50 mln S&P Capital IQ Consensus.
• Global Outage: "On June 8, our network experienced a global outage affecting nearly all customers. The outage resulted from an undiscovered software bug that was triggered by a valid customer configuration change. We detected the bug within one minute and returned 95% of our network to normal within 49 minutes, but our customers were negatively impacted. As a result, we saw traffic volumes decrease and issued credits to customers following the incident. Given the usage-based nature of our business model, this resulted in an impact to our Q2 results, and we expect to see a downstream impact on revenue from the outage in the near-to medium-term as we work with our customers to bring back their traffic to normal levels. We continue to implement significant measures to ensure increased resiliency for our customers and their users, and we continue to engage with our customers to regain their confidence in Fastly."