Proofpoint (PFPT) Tops Q3 EPS by 13c, Revenues Beat; Offers FY18 EPS Guidance Above Consensus, Boosts Billings, Revenue and Profitability Guidance

Proofpoint (NASDAQ: PFPT) reported Q3 EPS of $0.40, $0.13 better than the analyst estimate of $0.27. Revenue for the quarter came in at $184.2 million versus the consensus estimate of $181.35 million.

• Total revenue of $184.2 million, up 37% year-over-year
• Billings of $221.4 million, up 33% year-over-year
• GAAP EPS of $(0.69) per share, Non-GAAP EPS of $0.40 per share
• Generated operating cash flow of $64.7 million and free cash flow of $58.2 million
• Increasing FY18 billings, revenue and profitability guidance

“The third quarter marked another compelling example of our team’s disciplined execution and strong customer focus,” stated Gary Steele, chief executive officer of Proofpoint. “We were pleased with our quarterly results, which were again driven by the rapidly evolving threat landscape, the ongoing shift to the cloud, and continued high demand for our advanced threat and compliance capabilities. Given these ongoing trends and our proven ability to identify and block advanced threats, I believe that we are well-positioned to continue to gain share and deliver attractive returns for our shareholders.”

“We were pleased with our ability to exceed expectations during the third quarter, highlighted by revenue and billings growth of 37% and 33%, respectively, as well as another quarter of strong free cash flow generation,” stated Paul Auvil, chief financial officer of Proofpoint. “The investments we’re making in our team, and in expanding our product portfolio, represent strong competitive differentiators and further extend our ability to generate attractive top-line growth coupled with strong free cash flow margins.”

GUIDANCE:

Proofpoint sees FY2018 EPS of $1.29-$1.32, versus the consensus of $1.17. Proofpoint sees FY2018 revenue of $709.5-711.5 million, versus the consensus of $708.53 million.

For earnings history and earnings-related data on Proofpoint (PFPT) click here.

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