Qualys Shares Plummet On Disappointing Outlook

Qualys Inc. shares dropped in the extended session Monday after the cybersecurity company's outlook fell below Wall Street expectations. Qualys shares fell 23% to $42.15 on moderate volume. Qualys forecast adjusted earnings of 9 cents to 11 cents a share on revenue of $39.5 million to $40 million for the second quarter, and 50 cents to 55 cents a share on revenue of $165 million to $166.5 million for the year. Analysts surveyed by FactSet estimate 13 cents a share on revenue of $40.7 million for the second quarter, and 53 cents a share on revenue of $168.4 million for the year. The company reported adjusted first-quarter earnings of 15 cents a share on revenue of $37.5 million. Analysts had expected 11 cents a share on revenue of $38 million.