FireEye (NASDAQ:FEYE) earnings for the cybersecurity company’s fourth quarter of 2019 have FEYE stock falling after-hours Wednesday. This is despite its adjusted earnings per share of 7 cents, which beats out Wall Street’s estimate of 4 cents. Revenue of $235.09 million also comes in above analysts’ estimates of $226.61 million.
Here are some of the finer details from the most recent FireEye earnings report.
- Adjusted EPS is up 16.67% from 6 cents in the fourth quarter of 2018.
- Revenue for the quarter is 8.07% higher than the $217.53 million from the same time last year.
- Operating loss of -$35.09 million is a 4.39% improvement YoY from -$36.70 million.
- The FireEye earnings report also includes a net loss of -$49.22 million.
- This is 1.69% worse than the company’s net loss of -$48.40 million from the same period of the year prior.
Kevin Mandia, FireEye Chief Executive Officer, says this about the FEYE stock earnings.
“We continue to accelerate our transformation to a comprehensive security solutions company. Our higher growth solutions, which include Platform, Cloud Subscription, Managed Services and Mandiant services, were 59 percent of our billings in the fourth quarter and increased 23 percent from a year ago. We anticipate that these solutions will continue to eclipse the on-premise portion of our business in 2020.”
The FireEye earnings report also includes its 2020 outlook. It expects adjusted per-share earnings of 20 cents to 24 cents on revenue of $935 million to $945 million. Wall Street’s estimates are for 14 cents per share and revenue of $946.08 million for the year.
FEYE stock was down 4.75% after-hours Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.