FireEye (FEYE) Tops Q1 EPS by 2c; Guides Lower

FireEye (NASDAQ: FEYE) reported Q1 EPS of ($0.02), $0.02 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $225 million versus the consensus estimate of $221.28 million.

"I believe we performed exceptionally well in the first quarter,” said Kevin Mandia, FireEye chief executive officer. “We were able to shift our operations around the world almost seamlessly to a work-from-home model on very short notice. This allowed us to remain focused on our mission to protect our customers, as threat actors continue their heated pace of attacks while the world faces a global pandemic.”

“Our ability to adapt to the current environment was the result of the steps we have taken to modernize our business, and our results show that,” added Mandia. “The emerging growth areas of our business -- Platform, Cloud Subscription, and Managed Services and Mandiant Consulting services -- have eclipsed our appliance-based business and accounted for 53% of our revenue in the first quarter. We expect this trend to continue through the rest of 2020.”

GUIDANCE:

FireEye sees Q2 2020 EPS of ($0.03)-($0.01), versus the consensus of $0.02. FireEye sees Q2 2020 revenue of $213-217 million, versus the consensus of $222.95 million.

FireEye sees FY2020 EPS of $0.03-$0.07, versus the consensus of $0.17. FireEye sees FY2020 revenue of $880-900 million, versus the consensus of $920.2 million.

For earnings history and earnings-related data on FireEye (FEYE) click here.

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