Shares of Fastly, Inc. (NYSE: FSLY) are soaring 18.48% in intraday trading following the cloud computing services provider's release of better-than-expected second-quarter earnings, raised guidance, and announcement of key leadership changes. The company's strong financial performance and strategic moves have significantly boosted investor confidence.

Fastly reported Q2 2025 revenue of $148.7 million, representing a 12.34% year-over-year growth and beating analyst expectations. The company's adjusted loss per share of $0.03 also outperformed consensus estimates of $0.05, showing a marked improvement from the $0.07 loss per share in the same period last year. CEO Kip Compton attributed the record revenue to increased customer acquisition and expanded cross-sell opportunities, with product package deals growing over 50% year-over-year.

Adding to the positive momentum, Fastly raised its full-year 2025 financial guidance, now projecting revenue between $594 million and $602 million. The company also anticipates positive free cash flow for the full year 2025. In a strategic move, Fastly announced the appointment of Richard Wong as the new Chief Financial Officer, effective August 11, replacing Ronald Kisling. These factors, combined with the robust financial performance, have significantly contributed to the stock's impressive rally.