FireEye’s Record Numbers Just Keep Coming in Q3

By Chris Lange Published Oct 27, 4:11PM EDT

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FireEye’s Record Numbers Just Keep Coming in Q3 — © solarseven / Getty Images

FireEye Inc. (NASDAQ: FEYE) released its most recent quarterly results after the markets closed on Tuesday. The cyber security firm is continuing to post record numbers in the wake of the COVID-19 pandemic. FireEye posted $0.11 in earnings per share (EPS) and $238 million in revenue. Analysts were calling for $0.07 in EPS on revenues of $227.67 million. The third quarter of last year reportedly had $0.02 in EPS on $225.91 million in revenue.

At the same time, the company notched an all-time record annualized recurring revenue of $612 million, an increase of 6% compared to the end of the third quarter of 2019.

FireEye saw a continued shift to cloud-based solutions as Platform, cloud subscription and managed services annualized recurring revenue increased 18% to $313.9 million. This eclipsed Product and related subscription and support annualized recurring revenue for the second time, which came in at $298.0 million.

In terms of the quarterly numbers, Product subscription and support revenues came in at $183.84 million and Professional services revenues were $54.62 million.

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Looking ahead to the fourth quarter, FireEye expects to see EPS in the range of $0.09 to $0.11 and revenue between $237 million and $241 million. Consensus estimates are calling for $0.10 in EPS and $236.72 million in revenue.

For the full year, the company anticipates EPS in the range of $0.28 to $0.30 and revenue in the range of $930 million to $934 million. Analysts anticipate $0.25 in EPS and $919.51 million in revenue.

FireEye closed Tuesday at $14.09, in a 52-week range of $7.54 to $18.34. The consensus price target is $16.90. Following the announcement, the stock was up 6% at $14.95 in the after-hours session.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.