FireEye revenue, billings forecasts disappoint, shares fall

- Cyber security company FireEye Inc on Tuesday forecast second-quarter revenue and billings largely below Wall Street expectations as it expects to close fewer large deals than it did a year ago, sending its shares down 5 percent in after-hours trading.

The company had signed two deals worth $10 million each in the first quarter and the second quarter of 2018, relatively rare for FireEye, Chief Financial Officer Frank Verdecanna said on a post-earnings call.FireEye said it expects second-quarter billings in the range of $205 million to $220 million, largely below estimates of $215.2 million.

Cyber security companies have benefited as organizations worldwide ramp up budgets to shield against rising cyber crime. Severe attacks such as a denial-of-service can cripple entire organizations while malware and phishing often target individuals through emails.

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