CyberArk Beats Earnings Estimates, But Shares Fall

Cyberark Software Ltd CYBR released its Q2 results after market close on Tuesday. Earnings per share came in above Wall Street consensus expectations, however, shares dropped 5 percent.

CyberArk reported EPS of $0.29 and revenues of $50.4 million. Analyst consensus had an EPS estimate of $0.2 and revenues of $48.2 million.

CyberArk saw Q3 revenues at $51.5-$52.5 million vs. estimates of $52 million and Q3 EPS of $0.21-$0.23 vs. estimates of $0.21. Additionally, the company saw FY16 revenues of $210.5-$212.5 million vs. estimates of $210.8 million and EPS of $1.03-$1.07 vs. estimates of $0.92.

"The second quarter was another strong quarter for CyberArk," said Udi Mokady, CyberArk Chairman and CEO. "Our top line growth demonstrates the increasing demand for our privileged account security platform while our bottom line outperformance shows the power of our business model. As we move into the second half of the year, we plan to continue making thoughtful investments including enhancing our technology platform and expanding market presence."

At time of writing, CyberArk traded at $52.25 in Tuesday's after-hours session, down 5.5 percent.