FireEye Inc Shares Up After Strong Earnings Report

Published on: 09 Feb, 2018

FireEye Inc (NASDAQ: FEYE) shares jumped more than 10% early Friday, after the cybersecurity company announced financial results for the fourth quarter and fiscal year ended December 31, 2017.

For the fourth quarter, FireEye reported revenue of $202.3 million, an increase of 10 percent from the fourth quarter of 2016, and above the guidance range of $190 million to $196 million. Revenue for the 2017 fiscal year was $751.1 million, an increase of 5 percent from 2016, and above the guidance range of $739 million to $745 million.

"We achieved strong results across all key financial metrics in the fourth quarter and delivered against our year-long commitment of billings and revenue growth, non-GAAP operating profitability, and positive operating and free cash flow by the fourth quarter," said Kevin Mandia, FireEye chief executive officer. "We delivered year-over-year and sequential growth in every major product group and geographic region, and we closed a record number of transactions greater than $1 million."

"We are building FireEye for the long-term, and we begin 2018 with a solid foundation for future growth and increased profitability," added Mandia. "The combination of our expertise on the front lines, our threat intelligence, and our machine-generated cyber attack data gives us greater visibility into the threat environment than any other security company. I believe this is a sustainable competitive advantage for us. We leverage our unique insights in our continuous innovation cycle that allows us to rapidly adapt our solutions, deliver expertise on demand, and remain relevant for our customers as the threat landscape evolves."

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Danny Abramov

Email: danny@financialinsiders.com

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