FireEye Posts Upbeat Q1 Results, Lifts Sales Forecast

reported better-than-expected results for the first quarter and lifted its sales forecast for the full year. For the year, FireEye now expects revenue of $615 million to $635 million, versus earlier forecast of $605 million to $625 million. The company also expects a loss of $1.75 to $1.85 per share. For the current quarter, FireEye projects adjusted loss of $0.47 to $0.50 per share, on revenue of $140 million to $144 million. Analysts had expected a loss of $0.49 per share on revenue of $140 million. The Milpitas, California-based company reported a quarterly loss of $134 million, or $0.88 per share, versus a year-ago loss of $101.2 million, or $0.76 per share. Excluding items, FireEye lost $0.48 per share. Its revenue climbed 69.5 percent to $125.4 million. Analysts were expecting a loss of $0.51 per share on revenue of $120.56 million. The average estimate among 35 Estimize users was for a loss of $0.43 per share and revenue of $126.02 million. During the quarter, the company added more than 220 customers. Billings increased 53 percent to $151.6 million. At the end of the quarter, deferred revenue was $378.8 million. "FireEye had a very strong start to the year, as the momentum we experienced at the end of 2014 continued into Q1," said David DeWalt, CEO and Chairman of the Board of FireEye. "The results FireEye reported for the first quarter exceeded expectations on all financial metrics, leading us to raise our outlook for the remainder of 2015." FireEye shares gained 1.94 percent to $42.10 in the after-hours trading session.