Hot security company FireEye just lowered guidance and its stock is plummeting
The company beat on earnings - it lost less money than expected - and was slightly ahead on revenue estimates. But shares are down almost 15% after hours as it missed on billings and lowered forecasts for the coming year.
There are the most important numbers:
EPS: $0.37 loss per share vs. $0.45 loss per share estimated.
Revenue: $165.6 million vs. $167.1 million estimated
Billings: $210.6 million, far below its guidance of $225 million to $230 million.
It also lowered revenue projections for the coming year to $620 to $628 million, down from $630 to $645 million.
FireEye's software provides protection against malware attacks, and its main customers are governments and big enterprises. The company's CEO, Dave DeWalt, is best known as the cofounder of McAfee, a big antivirus company that Intel bought for $7.8 billion in 2010.
The company had a successful $300 million IPO in September 2013, and its share price more than doubled by early February, but it's cooled off since then - its CFO resigned in July, and the stock is now more than 30% below its IPO price.