What happened
Shares of FireEye, Inc. (MNDT) were up 11.5% as of 2:30 p.m. EDT Wednesday after the cybersecurity specialist announced strong third-quarter 2018 results.
More specifically, FireEye's quarterly revenue climbed 7% year over year to $212 million, translating to adjusted net income of $11.9 million, or $0.06 per share. Both the top and bottom lines were well above FireEye's guidance provided in early August, which called for revenue of $206 million to $210 million and adjusted net income per share of $0.01 to $0.03.
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So what
FireEye's billings also climbed 8% to $219 million, near the high end of guidance for $210 million to $220 million.
FireEye CEO Kevin Mandia noted the company made "tremendous strides" in both productivity and efficiency, adding FireEye has returned to sustained growth.
"At the same time, we have accelerated innovation across our portfolio of product and services," Mandia elaborated. "With our expertise and intelligence driving a continuous innovation cycle, this is an exciting time to be at FireEye.
Now what
For the fourth quarter, FireEye sees revenue arriving in the range of $214 million to $218 million, with adjusted net income per share of between $0.04 and $0.06. Here again -- and though we don't usually pay close attention to Wall Street's models -- most analysts would have settled for fourth-quarter earnings of $0.04 per share on revenue right at the midpoint of FireEye's expected range.
