Nov 7 FireEye Inc, a technology firm
that helps companies fend off cyber attacks, gave a revenue
outlook for 2014 that came in ahead of Wall Street forecasts as
it posted results for the first time since it went public in
September in one of this year's hottest IPOs.
The company's shares climbed 8 percent. FireEye said it sees
revenue next year of between $240 million and $250 million, up
from between $156 million and $158 million this year.
Analysts have been forecasting 2014 revenue of $231 million,
according to Thomson Reuters I/B/E/S.
FireEye uses cloud-based technologies to help businesses
detect malicious software that it says evade old-school
anti-virus software made by companies including Symantec Corp
and Intel's McAfee security division.
FireEye's CEO, Dave DeWalt is the former chief executive of
McAfee who sold McAfee to Intel.
FireEye's third-quarter non-GAAP loss widened to $38.2
million, or $1.21 per share, from $6.1 million, or 55 cents, a
year earlier, as the number of outstanding shares nearly
tripled. Analysts were expecting a loss of $1.28 per share.
FireEye shares rose to $41.15 in extended trade, up from
their Nasdaq close of $38.03.
The shares are trading at about double their $20 IPO price
on expectations that heavy spending on sales and marketing,
along with more modest investments in research and development,
are preparing the company for a period of rapid growth.
Third-quarter revenue rose 95 percent from a year earlier to
$42.7 million. Billings climbed 103 percent to $70.8 million.