FireEye Inc (NASDAQ: FEYE) rose Friday after the company reported stronger-than-expected results for its fourth quarter. The company issued strong first quarter and FY18 sales guidance.
The intelligence-led security company today announced financial results for the fourth quarter and fiscal year ended December 31, 2017. Revenue came in at $202.3 million, an increase of 10% from the fourth quarter of 2016, and above the guidance range of $190 million to $196 million. Billings of $242.2 million, an increase of 9% from the fourth quarter of 2016, and above the guidance range of $210 million to $230 million.
According to CEO Kevin Mandia, "We achieved strong results across all key financial metrics in the fourth quarter and delivered against our year-long commitment of billings and revenue growth, non-GAAP operating profitability, and positive operating and free cash flow by the fourth quarter,
"We delivered year-over-year and sequential growth in every major product group and geographic region, and we closed a record number of transactions greater than $1 million."
"We are building FireEye for the long-term, and we begin 2018 with a solid foundation for future growth and increased profitability," added Mandia. "The combination of our expertise on the front lines, our threat intelligence, and our machine-generated cyber attack data gives us greater visibility into the threat environment than any other security company. I believe this is a sustainable competitive advantage for us. We leverage our unique insights in our continuous innovation cycle that all
FEYE stock gained $1.04, or 7.4%. to $15.16. as the closing bell neared Friday