Yahoo Finance Fastly (FSLY) to Report Q1 Earnings: What's in the Cards?
Fastly FSLY is slated to release first-quarter 2023 results on May 3.
For the first quarter, the company expects revenues between $114 million and $117 million. Adjusted loss is anticipated in the range of 12-8 cents per share.
The Zacks Consensus Estimate for the first-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 15 cents per share in the year-ago quarter.
The consensus mark for the top line is currently pegged at $116.17 million, suggesting growth of 13.47% 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 two of the trailing four quarters and missed the same twice, the average surprise being 0.02%.
Let’s see how things are shaping up for the upcoming announcement:
Factors to Note
Fastly’s first-quarter performance is likely to have boosted momentum in its network service delivery and edge compute. 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 the to-be-reported quarter’s performance. During the first quarter, the company launched its new partner program to deliver 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 innovation.
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.
It’s expanding footprint across e-commerce, digital publishing, financial services and healthcare markets might have aided the to-be-reported quarter’s performance.
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 #3 but carries an Earnings ESP of -1.27%. 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:
Airbnb ABNB has an Earnings ESP of +23.46% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Airbnb shares are up 34.8% year to date. ABNB is set to report its first-quarter 2023 results on May 9.
DoorDash DASH has an Earnings ESP of +8.93% and a Zacks Rank of 3, at present.
DoorDash shares have gained 19.7% year to date. DASH is set to report its first-quarter 2023 results on May 4.
Frontier Communications Parent FYBR has an Earnings ESP of +20.00% and a Zacks Rank #3.
Frontier shares are down 14.1% year to date. FYBR is set to report its first-quarter 2023 results on May 5.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Fastly, Inc. (FSLY) : Free Stock Analysis Report
DoorDash, Inc. (DASH) : Free Stock Analysis Report
Airbnb, Inc. (ABNB) : Free Stock Analysis Report
Frontier Communications Parent, Inc. (FYBR) : Free Stock Analysis Report
