FireEye (FEYE) said Tuesday that it earned 6 cents a share in the September quarter, swinging to a profit from a loss a year ago as revenue topped analyst forecasts. FireEye stock climbed in after-hours trading.
XThe cybersecurity firm said fiscal third-quarter revenue rose 7% to $212 million. Analysts expected FireEye earnings to come in at 2 cents a share on sales of $208.4 million for the period ended Sept. 30. A year earlier, the FireEye earnings report came in with a 4-cent per-share loss on sales of $189.6 million.
For the December quarter, FireEye said it expects to earn 5 cents a share, a penny above estimates. The company forecast fourth-quarter revenue of $216 million, in line with estimates.
A maker of computer security software, FireEye stock rose 3.3% to 17.40 in after-hours trading on the stock market today.
FireEye Competes With Splunk, ServiceNow
The Milpitas, Calif.-based company sells web, email and malware security software to businesses and government agencies.
FireEye has specialized in "sandboxing" technology. It tests suspicious internet traffic in an isolated environment to test if a program contains a virus or malware.
Analysts expect growth from Helix, is an advanced analytics platform. Splunk (SPLK) and ServiceNow (NOW) compete with FireEye's Helix product.
FireEye stock is about even from a year ago. FireEye's chart has formed a cup with handle over the last six months, a possible bullish sign.
IBD's Computer-Software Security group is ranked No. 64 out of 197 groups. That's down from No. 8 three months ago.
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The post FireEye Stock Rises As Quarterly Earnings, Revenue Top Estimates appeared first on Investor's Business Daily.
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