FireEye beats 3Q earnings expectations, misses revenue forecasts

MarketsAssociated Press

Shares of FireEye slid 20 percent in extended trading Tuesday after the computer security software developer booked weak revenue in the third quarter and issued tepid guidance.

The Milpitas, California-based company said it had a third-quarter loss of $120 million, or 83 cents per share. Losses, adjusted for one-time gains and costs, came to 51 cents per share.

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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 56 cents per share.

The computer security software company posted revenue of $114.2 million in the period, which fell short of Street forecasts. Analysts expected $116.3 million, according to Zacks.

For the current quarter ending in December, FireEye said it expects revenue in the range of $135 million to $147 million. Analysts expect $143.8 million, according to FactSet.

The company expects a full-year loss of $2.15 to $2.05 per share, with revenue ranging from $418 million to $430 million. Analysts forecast an annual loss of $2.13 per share on revenue of $428.3 million, a survey by FactSet reports.

FireEye Inc. shares changed hands at $27.25 in the after-hours market, down $7 from the regular close. The stock has dropped 21 percent since the beginning of the year, as of Tuesday's close.

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Elements of this story were generated by Automated Insights using data from Zacks Investment Research. FEYE stock research report from Zacks.

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Keywords:FireEye,Earnings Report