FireEye Earnings: FEYE Stock Falls 3% Despite Q3 Earnings Beat

FEYE beat EPS and revenue estimates for Q3

FireEye (NASDAQ:FEYE) earnings for the cybersecurity company’s third quarter of 2019 have FEYE stock down after the markets closed on Tuesday. This is despite the company’s adjusted EPS of 2 cents and revenue of $225.91 million. For comparison, Wall Street was expecting adjusted earnings per share of one penny and revenue of $219.80 million for the period.

FireEye Earnings: FEYE Stock Falls 3% Despite Q3 Earnings Beat
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Let’s take a more in-depth look at the Q3 FireEye earnings report.

  • Adjusted per-share earnings are down 66.66% from the 6 cents reported in the third quarter of 2018.
  • Revenue is sitting 6.74% higher YoY from $211.65 million.
  • The FireEye earnings report also sees it announcing an operating loss of $54.72 million.
  • This is a 50.17% increase from its operating loss of $36.44 million in the same period of the year prior.
  • Net loss of $65.50 million is 30.90% wider compared to a net loss of $50.04 million in the third quarter of the previous year.

Kevin Mandia, FireEye CEO, says this about the most recent FEYE stock earnings report.

“We continued to execute on our long-term plan to transform FireEye from our origins as a network security product vendor to a comprehensive security platform company. Record third quarter billings for our platform, cloud subscription and managed services as well as professional services categories demonstrate our progress.”

Investors that want further details about the most recent FireEye earnings report can tune in to the company’s conference call. This will take place at 5:00 p.m. Eastern Time. FEYE will go over the results in this call.

FEYE stock was down 3.10% after the markets closed on Tuesday. The stock also closed out the day down 4.68%.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/fireeye-earnings-hit-feye-stock-despite-beat/.

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