Shares in cybersecurity company FireEye Inc. (FEYE) continued their upward climb in premarket trading on Wednesday, Oct. 31, buoyed by better-than-expected third-quarter earnings and expectations for stronger growth through the remainder of the year.
FireEye shares rose as much as 7% in premarket trading to $17.89 after the company reported third-quarter earnings late Tuesday that topped analysts' estimates, and said it expects results for the fourth quarter to come in in-line or better than forecasts.
The Milpitas, California-based company reported adjusted earnings of 6 cents a share. Revenue rose to $211.7 million from $197.4 million a year earlier. Billings rose 8% to $219 million.
Analysts surveyed by FactSet had forecast adjusted profit of 2 cents a share on revenue of $208.4 million, and billings of $215.2 million.
The company, which has probed some of the biggest cyber attacks to date including the Equifax breach, said its operating costs dropped 3%.