FireEye Q1 revenue, EPS top expectations, forecast higher, shares rise

Mandiant emphasized its annualized recurring revenue, or ARR, from its Platform, cloud and subscriptions, combined, rose 22%, year over year, to $352 million.
Written by Tiernan Ray, Senior Contributing Writer

Cloud cyber-security pioneer FireEye this afternoon reported Q1 revenue and profit that topped analysts' expectations, and an outlook for this quarter, and the full year, higher as well. 

The company's annualized recurring revenue rose 9%, year over year, to $643 million.

The report sent FireEye shares up 2% in late trading

CEO and Kevin Mandia noted that growth in the quarter was "led by our Platform, Cloud Subscription and Managed Services category, which increased 26% year over year, and our Professional Services category, which increased 25% year over year."

Mandiant's ARR from its Platform, cloud and subscriptions, combined, rose 22%, year over year, to $352 million, it said. 

CEO Mandia noted that the comany added new modules to its suite, to take advantage of "expertise and intelligence": "Mandiant Automated Defense, which adds a powerful, multi-vendor XDR capability, and Mandiant Security Validation, which enables customers to manage, measure, and report on cyber security risk within their organization."

Revenue in the three months ended in March rose 10%, year over year, to $246 million, yielding a net profift of 8 cents a share, excluding some costs.

Analysts had been modeling $237 million and 6 cents per share.

For the current quarter, the company sees revenue of $246 million to $250 million, and EPS in a range of 8 cents to 9 cents, excluding some costs. That compares to consensus for $244 million and an 8-cent profit per share.

For the full year, the company sees revenue in a range of $1.01 billion to $1.03 billion, and EPS of 39 cents to 41 cents. That compares to consensus of $1 billion and a 36-cent profit per share.

Editorial standards