FireEye Earnings: FEYE Stock Dips as Q1 Loss Widens Y2Y

FireEye (NASDAQ:FEYE) announced its quarterly earnings results for its first three months of its fiscal 2019, amassing a loss that was wider than analysts expected, while its revenue topped the mark slightly, yet FEYE stock was down more than 3% after hours.

FireEye EarningsThe Milpitas-based cybersecurity business said that for its first quarter of the year, it posted a loss of $75.4 million, or 38 cents per share. The figure was 4.8% wider when compared to the same amount during the company’s year-ago quarter, when it lost $71.8 million, or 39 cents per share.

FireEye added that on an adjusted basis, it posted a loss of 3 cents per share, which is in line with the company’s own adjusted loss forecast that was between a loss of 4 cents and 2 cents per share. Analysts were calling for the company to bring in an adjusted loss of 3 cents per share, according to data compiled by FactSet.

The company’s sales tallied up to $210.5 million, which is about 5.7% higher than it was during the year-ago quarter, when it raked in $199.1 million in revenue. FireEye predicted it would bring in revenue in the range of $208 million to $212 million, while analysts saw this figure at $210.2 million, according to FactSet.

“We grew in every geography, everything kind of did what we expected,” FireEye CEO Kevin Mandia said in an interview. “We launched Expertise On Demand. I do believe most security folks like a backstop that’s a click away and it was our first quarter of having that.”

FEYE stock fell 3.9% after hours. Shares had gained 1.3% during regular trading.


Article printed from InvestorPlace Media, https://investorplace.com/2019/04/fireeye-earnings-feye-stock/.

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