FireEye (FEYE) Stock Slides Despite Q2 Earnings, Revenue Beat

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FireEye (NASDAQ:FEYE) had a strong quarterly earnings showing on Wednesday as the company’s revenue, earnings and guidance were above analysts’ expectations.

FireEye (FEYE)The cybersecurity company said that its second quarter of fiscal 2018 included a loss of $72.86 million, or 28 cents per share. On an adjusted basis, the company said its earnings were at the break-even point.

FireEye beat analysts expectations on an adjusted basis as Wall Street was projecting the company to post an adjusted loss of a penny per share, according to data compiled by FactSet. The company also had strong revenue figures as it amassed sales of $202.7 million, an improvement over the $191.7 million from the year-ago quarter, while also topping the $201.5 million that analysts polled by FactSet forecasted.

The cybersecurity software developer’s billings figure was also ahead of estimates at $196 million for the quarter. The metric, which measures future business under contract, was better than the $188.3 million that analysts polled by FactSet were calling for.

FireEye’s third-quarter outlook sees revenue in the range of $206 million to $210 million, while billings will be in the range of $210 million to $220 million, plus its adjusted profit will be around 2 cents per share. The company’s full-year guidance is now at a midpoint of $835 million, above its previous midpoint of $825 million.

FEYE stock was rising a touch above 1% during regular trading hours in anticipation of the company’s quarterly earnings results. The company’s stock fell about 3.1% after the bell Wednesday despite its revenue beat.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/fireeye-feye/.

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