FSLY - Fastly shares retreat despite solid outlook upbeat earnings results

Fastly ( NYSE: FSLY ) shares fell 3.5% in after-hours trading Wednesday even as the cloud platform developer forecast first-quarter revenue to grow from a year ago and reported better-than-expected fourth-quarter results.

Following the close of trading, Fastly ( FSLY ) said that for its fiscal first-quarter, it expects to report a loss of between 8 cents and 12 cents a share, excluding one-time items, on revenue in a range of $114M to $117M. During the same period a year ago, Fastly ( FSLY ) lost 15 cents a share, excluding one-time items, on $102.4M in sales.

For its fourth quarter, Fastly ( FSLY ) reported a loss of 8 cents a share on revenue of $119.3M. Wall Street analysts had forecast the company to lose 13 cents a share, on $114.6M in sales.

It looked like a case of sell-on-the-news for Fastly ( FSLY ) following what had been a hot start to the week for the company. On Monday, Fastly ( FSLY ) shares surged more than 27% in the wake of Bank of America Securities analyst Tal Liani raising his raring on Fastly's ( FSLY ) stock to buy from underperform, and boosted his price target to $16 a share from $10.50 .

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