FireEye (FEYE) Tops Q1 EPS by 3c, Sales Miss; Sales Guidance Misses Views
FireEye (NASDAQ: FEYE) reported Q1 EPS of ($0.47), $0.03 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $168 million versus the consensus estimate of $171.82 million.
"Our first quarter billings exceeded the high end of our guidance range, driven by demand for our threat intelligence, cloud-based Email Threat Protection, and FireEye as a Service subscriptions," said David DeWalt, FireEye chairman of the board and chief executive officer. "Our billings performance and customer metrics point to continued strength in our business as customer preference for cloud-based and cloud-enabled solutions grows. We expect this trend to continue as we extend our MVX detection engine to public and private clouds and introduce new software-only solutions like the FireEye Security Orchestrator and virtual MVX appliances. These platform expansions create incremental opportunities to deliver FireEye detection, investigation and remediation technologies to branch offices of our existing customers and to small and mid-sized enterprises."
"Our ability to reduce the risk, mask the complexity and lower the total cost of ownership of cyber security for our customers positions us at the intersection of the powerful trends driving change in our industry. We continue to make the strategic investments in our intelligence-led threat management platform and international infrastructure necessary to take advantage of this growing opportunity. At the same time, we remain committed to accelerating our progress on the path to profitability," added DeWalt.
FireEye sees Q2 2016 EPS of ($0.38)-($0.40), versus the consensus of ($0.36). FireEye sees Q2 2016 revenue of $178-185 million, versus the consensus of $192.75 million.
FireEye sees FY2016 EPS of ($1.20)-($1.27), versus the consensus of ($1.25). FireEye sees FY2016 revenue of $780-810 million, versus the consensus of $826.6 million.
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