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April 28, 2020, 4:36 p.m. EDT

FireEye stock falls on outlook, company announces layoffs

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By Wallace Witkowski


FireEye Inc. /zigman2/quotes/204730283/composite FEYE -0.31% shares slipped in the extended session Tuesday after the cybersecurity company said it was laying off staff and forecast an outlook that fell short of Wall Street expectations. FireEye shares fell 5% after hours, following a 0.9% decline in the regular session to close at $11.42. FireEye expects an adjusted loss of 3 cents to a penny a share on revenue of $213 million to $217 million for the second quarter, and adjusted earnings of 3 cents to 7 cents a share on revenue of $880 million to $900 million for the year. Analysts had forecast earnings of 2 cents a share on revenue of $222.8 million for the second quarter, and 16 cents a share on revenue of $918.8 million for the year. In a statement, FireEye also said it was laying off about 6% of its workforce "to more closely align expenses to the company's projected revenue, position the company for improved operating performance, and allow the company to increase investment in the growth areas of the business." The company reported a first-quarter loss of $76.3 million, or 35 cents a share, compared with a loss of $75.4 million, or 38 cents a share, in the year-ago period. The adjusted loss was 2 cents a share. Revenue rose to $224.7 million from $210.5 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 4 cents a share on revenue of $221.3 million.

US : U.S.: Nasdaq
$ 12.75
-0.04 -0.31%
Volume: 2.27M
Sept. 17, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$2.88 billion
Rev. per Employee

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