Cyber security company FireEye Inc forecast first-quarter revenue largely above analysts' estimates as it expects to sign up more customers.
Continue Reading Below
Shares of FireEye, which also reported a smaller-than-expected third-quarter loss, rose almost 5 percent in after-hours trading on Thursday.
The company forecast revenue of $167 million-$177 million for the quarter ending in March. Analysts on average were expecting $167.9 million, according to Thomson Reuters I/B/E/S.
FireEye's fourth-quarter billings, a key indicator of its health, was $256.9 million - at the lower end of the $257 million-$258 million the company had estimated in January.
The company bought privately held iSight Partners for $200 million in January to boost its cyber intelligence offerings for governments and businesses.
While demand for more sophisticated security offerings has surged in the face of an increase in cyber hacking, FireEye is facing intense competition from Palo Alto Networks Inc, Proofpoint Inc and Imperva Inc.
FireEye said net loss attributable to common shareholders increased to $136.1 million, or 87 cents per share, in the quarter ended Dec. 31, from $105.7 million, or 72 cents per share, a year earlier.
Excluding items, the company lost 36 cents per share. Analysts on average had expected a loss of 37 cents per share.
Revenue rose 29.2 percent to $184.8 million, missing analysts' average estimate of $185.3 million.
(Reporting By Lehar Maan in Bengaluru; Editing by Saumyadeb Chakrabarty)