Earnings Review and Free Research Report: FireEye Announced Better Q2 Results, Beating its Own Earnings Estimates
Research Desk Line-up: Twilio Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 18, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on FireEye, Inc. (NASDAQ: FEYE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FEYE, following the Company's posting of its Q2 FY17 on August 01, 2017. The cyber security Company's revenue grew 5.95%; operating loss narrowed, while diluted net loss per common share also reduced on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Application Software industry. Pro-TD has currently selected Twilio Inc. (NYSE: TWLO) for due-diligence and potential coverage as the Company reported on August 07, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Twilio when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FEYE; also brushing on TWLO. With the links below you can directly download the report of your stock of interest free of charge at:
FireEye reported revenues of $185.47 million in Q2 FY17 compared to $175.04 million in the same quarter of FY16; registering a rise of 5.95% y-o-y. The Company made a gross profit of $118.78 million in the second quarter of FY17 against $107.61 million in Q2 FY16; an increase of 10.38% y-o-y.
The operating loss made by FireEye was $59.43 million in Q2 FY17 against a loss of $127.51 million in Q2 FY16, thereby reducing the loss made by 53.39% on a y-o-y basis.
Net loss made by FireEye attributable to its stockholders in Q2 FY17 was $70.73 million compared to loss of $139.32 million in Q2 FY16; registering a reduction in loss of 49.23% y-o-y. The Company clocked a non-GAAP operating margin of negative 3% in Q2 FY17 compared to negative 20% in the corresponding quarter last fiscal year.
FireEye reported diluted net loss per common share of $0.40 in Q2 FY17 versus $0.86 in Q2 FY16, thereby reducing loss per share by 53.49% y-o-y. However, non-GAAP net loss per share (basic and diluted) was $0.04 for Q2 FY17 compared to $0.33 in Q2 FY16.
The non-GAAP loss per share for FireEye for Q2 FY17 was significantly lower than the Company management's loss guidance of $0.10 to $0.14.
FireEye's Segment Information
The product billings and product subscription billings in Q2 FY17 were $106.07 million compared to a value of $128.15 million in the corresponding quarter last fiscal year, marking a reduction of 17.22% y-o-y. The support and maintenance billings for the Company were $28.29 million for Q2 FY17 versus $36.72 million for Q2 FY16; registering a reduction of 22.93% y-o-y. The billing for FireEye's professional services stood at $37.65 million for Q2 FY17 compared to $31.54 million in Q2 FY16; a rise of 19.37% y-o-y.
Revenues generated by the Company in its product and product subscription segment were $117.54 million in Q2 FY17 compared to $117.12 million in Q2 FY16; registering a marginal growth of 0.36% y-o-y. In the support and maintenance segment, FireEye generated revenues of $34.19 million in second quarter of FY17 against $29.67 million in the corresponding quarter of the last fiscal year; a growth of 15.23% y-o-y. Revenues generated by the Company from its professional services segment were $33.74 million for Q2 FY17 versus $28.25 million in Q2 FY16; a growth of 19.43% y-o-y.
FireEye used $28.42 million in net cash to fund its operating activities in H1 2017 compared to $35.65 million in H1 2016. The Company used $23.23 million in net cash to invest in activities during H1 2017 compared to $191.51 million in H1 of last year. The net change in cash and cash equivalents for H1 2017 was negative $69.23 compared to negative $218.11 million in H1 2016. The cash and cash equivalents at the end of H1 2017 were $154.44 compared to $183.99 in H1 2016.
For the third quarter of FY17, FireEye expected that total revenue to be in the range of $183 million to $189 million based on billings expected to be in the range of $190 million to $205 million. The Company also expects its non-GAAP gross margin to be around 73% and the non-GAAP operating margin to be around negative 4% to negative 6%. Non-GAAP net loss per share is expected to be between $0.06 and $0.09 based on an expected positive cash flow from operations of $1 million to $10 million.
For the entire year of 2017, FireEye's guidance on revenue is in the range of $734 million to $746 million, based on its billings expected to be in the range of $745 million to $775 million. FireEye expects non-GAAP net loss per share to be in the range $0.19 to $0.24 and a positive cash flow from operations to be in the range of $1 million to $10 million.
The Company also expects positive non-GAAP operating income in the fourth quarter of 2017.
On Thursday, August 17, 2017, the stock closed the trading session at $13.99, marginally down 0.50% from its previous closing price of $14.06. A total volume of 4.00 million shares have exchanged hands. FireEye's stock price surged 23.26% in the past six months. Furthermore, since the start of the year, shares of the Company have rallied 17.56%. At Thursday's closing price, the stock's net capitalization stands at $2.53 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
© 2017 Accesswire. All Rights Reserved.