FireEye Heats Up With Boost to Third-Quarter Revenue Forecast - TheStreet

Shares of FireEye (FEYE) - Get Report ignited Wednesday, climbing 6.6% to $14.75, after the cybersecurity company increased its third-quarter revenue and billings estimates.

In a Securities and Exchange Commission filing, the Milpitas, California-based company said that based on currently available information it expects revenue to be at or above the high end of its guidance range of $217 million to $221 million. In addition, FireEye estimated that its third-quarter billings will be within its previous range of $245 million to $255 million.

FireEye said it was finalizing the results for the quarter and the actual results may be differ from its updated estimates.

In July, FireEye saw its shares fall sharply after it said it expected third-quarter earnings of break-even to 2 cents a share, below Wall Street forecasts of 7 cents a share. The company said it expected the revenue range of $217 million to $221 million; analysts had been calling for revenue of $228.4 million.

The company is scheduled to release third-quarter financial results on Oct. 29.