Proofpoint Shares Slide While Earnings Top Street View

Proofpoint Inc. shares slipped in the extended session Thursday even after the cloud-based security company's results and outlook topped Wall Street estimates. Proofpoint shares declined 2% to $80.95 after hours. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $106.8 million. Analysts surveyed by FactSet had estimated 13 cents a share on revenue of $104.8 million. The company forecast adjusted first-quarter earnings of 7 cents to 9 cents a share on revenue of $109 million to $111 million. Analysts expect 5 cents a share on revenue of $106.6 million.