For content delivery and edge computing company Fastly (FSLY), its third quarter was a letdown, to put it lightly. Shares tumbled 30% over the past two trading sessions, after it was revealed that Q3 2020 revenue is expected to come in at $70-71 million, below the previous guidance of $73.5-$75.5 million.Who’s to blame for this miss? TikTok. Weaker-than-expected traffic volume and the subsequent drop in revenue from the video sharing platform, which is FSLY’s largest customer, was behind the disappointing showing. Instagram’s launch of Reels and political uncertainty could have driven viewing time away from TikTok’s social media platform in …read more
Source:: Yahoo Finance
