Categories AlphaGraphs, Technology

INFOGRAPHIC: How FireEye fared in Q1 2020

FIreEye Q1 2020 earnings

Cybersecurity firm FireEye (NASDAQ: FEYE) reported first-quarter 2020 earnings results on Tuesday after the regular trading hours. For the quarter, the company reported losses that were two cents narrower than expected on revenues that topped estimates.

In a statement, CFO Frank Verdecanna said, “Given the uncertainty regarding the duration and impact of COVID-19, we are withdrawing our billings and operating cash flow guidance for the full year 2020. In addition, the guidance that we are providing for Q2 2020 and the full year 2020 comes with the caveat that there is significant uncertainty caused by the COVID-19 pandemic, and that actual results could differ materially from our outlook.”

FEYE stock fell 6.3% immediately following the announcement. The stock has lost 32% of its value since the start of this year.

Competitor Fortinet (NASDAQ: FTNT) is scheduled to announce quarterly results on May 6.

Also Read:  It makes sense to keep an eye on FireEye stock, as transformation progresses

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