FireEye Loss Widens Despite Revenue Jump

FireEye Inc. on Thursday reported a wider loss for its fourth quarter, though revenue continued to surge on demand for its technology that helps prevent and respond to cyberattacks.

In the latest quarter, billings rose 21% to $256.9 million, at the top end of the company's November estimate for $240 million to $260 million.

Revenue climbed 29% to $184.8 million, below the $185.3 million analysts polled by Thomson Reuters had forecast.

The Milpitas, Calif., company is part of a wave of cybersecurity firms making a name for themselves in the wake of data breaches.

FireEye's main business is selling software to large organizations to detect malicious computer code, or malware. Where FireEye tries to prevent attacks with its software, its Mandiant unit acquired in late 2013 has focused on investigating security breaches that already have occurred.

Overall, FireEye reported a loss of $136.1 million, or 87 cents a share, compared with a year-earlier loss of $105.7 million, or 72 cents a share. Excluding stock-based compensation and other items, the per-share loss was 36 cents. Analysts had forecast an adjusted loss of 37 cents a share.

Expenses rose 20% to $245.1 million.

For the new year, the company forecast an adjusted loss of $1.25 to $1.32 on revenue of $815 million to $845 million. Analysts had forecast an adjusted loss of $1.28 a share on revenue of $815.6 million.

For the current quarter, FireEye expects a per-share loss of 49 cents to 53 cents, steeper than the loss of 40 cents that analysts forecast. The company expects revenue of $167 million to $177 million, while analysts see $167.9 million.

Shares of FireEye, down 65% over the past year, slid 2.8% to $12.06 in after-hours trading.

Write to Chelsey Dulaney at [e-mail]

(END) Dow Jones Newswires

February 11, 2016 17:25 ET (22:25 GMT)

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