As a vast amount of data transfer is required to create a virtual world in real time, Fastly is well-positioned to benefit from the metaverse. Cash and equivalents ended the period at $282 million.įastly offers edge computing infrastructure-as-a-service (IaaS) that brings servers and equipment to the source of data creation. Net loss came in at $56 million, or 48 cents per diluted share, compared to a net loss of $24 million, or 22 cents per diluted share, in the prior-year quarter. Revenue surged 23% year-over-year (YOY) to $87 million. Management issued third-quarter results on Nov. Fastly offers a variety of cloud services related to delivery, security, computing and performance. San Francisco, California-based Fastly operates a real-time content delivery network (CDN), which is “a geographically distributed group of servers which work together to provide fast delivery of Internet content,” according to Cloudflare (NYSE: NET).
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