The FireEye logo is seen outside the company's offices in Milpitas, California, December 29, 2014.
/Beck Diefenbach
- Cybersecurity company FireEye Inc reported better-than-expected quarterly revenue, helped by increasing spending by governments and businesses to protect their networks from sophisticated cyber attacks. Shares of FireEye, which also raised its full-year revenue forecast, rose 4 percent in extended trading on Thursday.Recent high-profile cyber attacks, such as those on Anthem Inc and Sony Corp, have forced companies and governments to beef up their online security.FireEye uses cloud-based technologies to help businesses and government departments fight off computer viruses that evade old-school antivirus software. The global cybersecurity market is estimated to grow to $155.74 billion by 2019 from $95.60 billion in 2014, according to market research firm MarketsandMarket.FireEye raised its revenue forecast for 2015 to $615 million-$635 million from $605 million-$625 million.Analysts on average were expecting $619.8 million, according to Thomson I/B/E/S.FireEye's net loss attributable to shareholders widened to $134.0 million, or 88 cents per share, in the first quarter ended March 31 from $101.2 million, or 76 cents per share, a year earlier.Excluding items, the company had a loss of 48 cents per share.Revenue jumped 69.5 percent to $125.4 million as subscription and services revenue, which accounts for about 58 percent of its total revenue, jumped 71 percent.Analysts on average had expected a loss of 51 cents per share and revenue of $120.6 million.FireEye shares were trading at $42.85 after the bell. (This version of the story adds the forecast, details and shares) (Reporting by Devika Krishna Kumar and Abhirup Roy in Bengaluru; Editing by Kirti Pandey)
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