FireEye Inc. (NASDAQ: FEYE) released its most recent quarterly results after the markets closed on Tuesday. This cybersecurity firm saw record numbers this quarter as COVID-19 has placed much more emphasis on the industry.
The company reported record numbers on both the top and bottom lines. FireEye said that it had $0.09 in earnings per share (EPS) and $230 million in revenue. Analysts were calling for a net loss of $0.02 per share on revenues of $214.8 million. The second quarter of last year reportedly had a net loss of $0.01 per share on $218 million in revenue.
At the same time, the company notched an all-time record annualized recurring revenue of $598 million, an increase of 8% compared to the end of the second quarter of 2019.
FireEye saw a continued shift to cloud-based solutions as Platform, cloud subscription and managed services annualized recurring revenue increased 27% to $302.23 million. This eclipsed Product and related subscription and support annualized recurring revenue for the first time, which came in at $295.85 million.
In terms of the quarterly numbers, Product subscription and support revenues came in at $177.3 million and Professional services revenues were $52.6 million.
Looking ahead to the third quarter, FireEye expects to see EPS in the range of $0.06 to $0.08 and revenue between $225 million and $229 million. Consensus estimates are calling for $0.02 in EPS and $220.11 million in revenue.
For the full year, the company anticipates EPS of $0.22 to $0.26 and revenue of $905 million to $925 million. Analysts anticipate $0.05 in EPS and $889.87 million in revenue.
FireEye traded up over 14% on Wednesday to $15.31, in a 52-week range of $7.54 to $18.34. The consensus price target is $13.87.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
