Fastly (FSLY) Climbs 17.7%, Investors Upbeat on Earnings

Fastly Inc. (NASDAQ:FSLY) is one of the 10 Stocks Turning Heads With Double-Digit Gains.

Fastly grew its share prices by 17.72 percent on Tuesday to close at $32.36 apiece, as investors loaded portfolios ahead of the results of its first quarter earnings performance, which came shortly after market close.

Earlier, the company announced targets of growing its revenues by 16 to 20.4 percent to a range of $168 million to $174 million in the first quarter of the year, versus the $144.5 million in the same period last year.

Photo from Fastly website

It also expects to swing to a non-GAAP net income per share of $0.07 to $0.10 from a non-GAAP net loss per share of $0.05 posted in the same comparable period.

Non-GAAP operating income is pegged at $14 million to $18 million, or an implied reversal of the $5.8 million non-GAAP operating loss year-on-year.

In other news, Fastly Inc. (NASDAQ:FSLY) earlier teamed up with Spain-based professional football association, Laliga, in combating piracy and illegal streaming of its live sports.

Under the agreement, Fastly Inc. (NASDAQ:FSLY) and Laliga will collaborate on a joint anti-piracy innovation project leveraging AI for a targeted, intelligent detection system that is able to identify illegal streams in real time.

Fastly and Laliga said that they are actively collaborating with other technology companies, publishers, and regulators to develop software solutions and best practices that quickly detect and disable unauthorized streaming while leaving all other traffic untouched.

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