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Fastly plummets 31% after revenue projections disappoint due to less business with TikTok

1 month ago   |   By

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Fastly plummeted 31% on Thursday after it reported preliminary third quarter earnings results that missed analyst estimates. Fastly said its largest customer, TikTok, did less business with it in the quarter, leading it to lower its third quarter revenue guidance. "Usage of Fastly's platform by its previously disclosed largest customer did not meet expectations, resulting in a corresponding significant reduction in revenue from this customer," the company said. Visit Business Insider's homepage for more stories. Fastly , the cloud edge platform that helps improve...
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