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Cyberark Software Ltd (NASDAQ: CYBR) and FireEye Inc (NASDAQ: FEYE) both reported their first quarter results after the market closed on Thursday.
FireEye
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Shares of FireEye were trading down more than 8.7 percent on Thursday’s after hours session, even though the company posted a net loss of ($0.47) per share, which was smaller than the ($0.50) per share that analysts were expecting. So, what was driving the decline in the stock?
Well, although revenue rose 34 percent year-over-year to $168 million, it missed expectations by $3.8 million.
Guidance was also soft. Management said it now expects second quarter revenue of $178 million to $185 million and a net loss of ($0.38) to ($0.40) per share, both worse than the Street’s consensus of $192.8 million and ($0.36) per share, respectively. For the full year, the company projects revenue of $780 million to $810 million and a net loss of ($1.20) to ($1.27) per share. Consensus stands at $828.6 million and ($1.25) per share.
Finally, FireEye announced that CEO Dave DeWalt is stepping down and will be succeeded by President Kevin Mandia. In addition, CFO Mike Berry will start serving as COO as well, Mandiant President Kevin Reese will be the new President, and DeWalt will remain as the Executive Chairman.
Cyberark
For their part, shares of Cyberark were down about 3.4 percent since the market closed, even though EPS of $0.23 and revenue of $46.9 million (up 42.4 percent year-over-year) beats estimates by $0.07 and $3.52 million, respectively.
So, what seems to be driving the stock down was guidance. Management said it expects second quarter EPS of $0.18 to $0.20, on revenues of $47.5 million to $48.5 million. While the EPS outlook was in line with the Street’s consensus of $0.18, revenue fell short of expectations for $57.43 million.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.