FireEye Beat Q3 Guide Down
After the close, FireEye (FEYE) released preliminary FQ3 revenues above the previous guidance while bookings were inline with guidance. The numbers aren't that impressive considering the company originally guided revenues below a consensus for the quarter of $229 million.
-The company posted early estimates for Q3 revenue "at or above the high end" of previous guidance for $217M-$221M, and billings to be within the range of $245M-$255M.
-The consensus expectations for Q3 revenues of $219.5M.
The stock is worth about $3 billion with slow growth and prospects of generating only $50 million in free cash flow this year. The cybersecurity company continues to go nowhere fast. FireEye likely rallies to $16-17, but the stock isn't going to $22 anytime soon as UBS recently speculated.
Investors should look to unload on any pop on these numbers.
More research: FireEye: Struggler
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