FireEye had enjoyed eight consecutive quarters of upping its forecasts, but the company hit a pothole with its fourth-quarter forecast, sending shares down 14 percent in after-hours trading today.
FireEye reported third-quarter revenues that grew 45 percent year-over-year. But the company predicted its full 2015 revenues will be $620 million to $628 million — down from its previous prediction of $630 million to $645 million.
The problem is something that’s actually good news for most of FireEye’s customers: Attacks out of China have slowed down, possibly as the result of September’s U.S.-China truce, CEO Dave DeWalt told Marketwire.
For its third quarter, which ended Sept. 30, FireEye reported revenues of $166 million and net losses of $136 million, or 88 cents per share.
For the same quarter last year, FireEye reported revenues of $114 million and losses of $120 million, or 83 cents per share.
Non-GAAP losses were 37 cents per share. Analysts had expected 45 cents, according to Reuters.