FireEye’s Record Numbers Just Keep Coming in Q3
FireEye continued to post record numbers this quarter in the wake of the COVID-19 pandemic.
FireEye Inc. (NASDAQ: FEYE) released its most recent quarterly results after the markets closed on Tuesday. The cyber security firm is continuing to post record numbers in the wake of the COVID-19 pandemic. FireEye posted $0.11 in earnings per share (EPS) and $238 million in revenue. Analysts were calling for $0.07 in EPS on revenues of $227.67 million. The third quarter of last year reportedly had $0.02 in EPS on $225.91 million in revenue.
At the same time, the company notched an all-time record annualized recurring revenue of $612 million, an increase of 6% compared to the end of the third quarter of 2019.
FireEye saw a continued shift to cloud-based solutions as Platform, cloud subscription and managed services annualized recurring revenue increased 18% to $313.9 million. This eclipsed Product and related subscription and support annualized recurring revenue for the second time, which came in at $298.0 million.
In terms of the quarterly numbers, Product subscription and support revenues came in at $183.84 million and Professional services revenues were $54.62 million.
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Looking ahead to the fourth quarter, FireEye expects to see EPS in the range of $0.09 to $0.11 and revenue between $237 million and $241 million. Consensus estimates are calling for $0.10 in EPS and $236.72 million in revenue.
For the full year, the company anticipates EPS in the range of $0.28 to $0.30 and revenue in the range of $930 million to $934 million. Analysts anticipate $0.25 in EPS and $919.51 million in revenue.
FireEye closed Tuesday at $14.09, in a 52-week range of $7.54 to $18.34. The consensus price target is $16.90. Following the announcement, the stock was up 6% at $14.95 in the after-hours session.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
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