FireEye Shares Tank 14% After Hours On Sales Miss

Next Story

Facebook Speeds Past 1.55 Billion Users And Q3 Estimates With $4.5B Revenue

Cybersecurity and malware protection company FireEye on Wednesday reported its third quarter sales were $165.6 million, compared to the $167.13 million Wall Street expected.

Despite missing on sales, the company’s losses were not as high as analysts expected. Wall Street thought the company would lose 45 cents per share, but instead the company posted a loss of 37 cents per share.

Investors have overlooked FireEye’s losses in the past due to healthy revenue growth. However that growth has slowed in recent quarters, causing shares to plummet. Today’s low sales number sent stocks diving 14 percent in extended trading.

Revenue was up 45 percent year over year. However in the same quarter a year ago, the company reported year over year revenue growth of 168%.

Coming off the revenue miss, the company also lowered its guidance for 2015 substantially. It is now guiding to $620 to $628 million in sales, as compared to $630 to $645 million at the report of the second quarter.

 

Featured Image: Maksim Kabakou/Shutterstock