Market Overview

FireEye Falls Following Weak Q2 Earnings, Guidance

Share:

FireEye Inc (NASDAQ: FEYE) shares are getting crushed after reporting second-quarter earnings results.

Earnings came in at a loss of 1 cent per share, missing estimates by 2 cents. Sales came in at $218 million, beating estimates by $2.8 million. The company also issued third-quarter earnings and sales guidance below estimates.

"Our billings growth in the second quarter was led by an acceleration in growth in our platform, cloud subscription, and managed services category," said CEO Kevin Mandia. "Demand was strong for our threat intelligence and managed defense solutions, as well as our strategic Mandiant services. Looking forward, we are excited by the opportunities created by the addition of the Verodin security instrumentation platform to our solutions offering."

Highlights

  • Revenue increased 7% year-over-year
  • Billings increased 13% year-over-year
  • Successfully closed the acquisition of Verodin

FireEye shares traded down more than 12.5% to $14.12 in Tuesday's after-hours session. The stock closed at $16.10.

Related Links:

JPMorgan Cites Billings Growth, Attractive Valuation In FireEye Upgrade

Sell-Side Analysts Laud FireEye's Transformation

Posted-In: Kevin Mandia VerodinEarnings News Guidance After-Hours Center Movers Trading Ideas

 

Related Articles (FEYE)

View Comments and Join the Discussion!

Cannabis Stock Gainers And Losers From July 30, 2019

What To Know About The Senate Hearing On Hemp