Fastly’s stock jumps 12% on better-than-expected earnings, revenue

Shares of Fastly Inc.
FSLY,
-2.86%
were popping 12% in after-hours trading Wednesday after the cloud-computing company reported quarterly results that edged analyst forecasts. Fastly posted a fiscal third-quarter net loss of $54.3 million, or 42 cents a share, compared with a net loss of $63.4 million, or 52 cents a share, in the year-ago quarter. Adjusted earnings were a loss of 6 cents a share. Revenue improved to $127.8 million, compared with $108.5 million a year ago. Analysts surveyed by FactSet had expected on average a net loss of 8 cents a share on revenue of $126.6 million. Shares of Fastly have catapulted 74% this year, while the broader S&P 500 index
SPX,
+1.05%
has advanced 10%.