FireEye Inc 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.
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