Cloud firm Fastly (NYSE: FSLY) has reported a narrower internet loss for the fourth quarter of 2022, aided by a rise in revenues.
Fourth-quarter revenues elevated 22% from final 12 months to $119.3 million. As a end result, the adjusted internet loss narrowed to $0.08 per share within the December quarter from $0.10 per share in the identical interval of 2021. The unadjusted loss was $46.7 million or $0.38 per share, in comparison with a lack of $57.5 million or $0.49 per share a 12 months earlier.
“We are excited to close out 2022 with another record quarter, exceeding the top end of our guidance range while demonstrating a significant improvement to gross margin,” stated Todd Nightingale, CEO of Fastly.
