Home Stocks FireEye Inc, Starbucks Corporation Shares Rise After Strong Earnings Results

FireEye Inc, Starbucks Corporation Shares Rise After Strong Earnings Results

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FireEye and Starbucks released their latest earnings reports after closing bell tonight. FireEye posted non-GAAP losses of 18 cents per share on $186.4 million in revenue, representing a 13% year over year increase. Those numbers compare to the consensus estimates of 31 cents per share in losses and $182.65 million in revenue. In last year’s third quarter, the cyber-security firm reported losses of 37 cents per share.

Starbucks reported non-GAAP earnings of 56 cents per share on $5.7 billion in revenue, compared to the consensus estimates of 55 cents per share and $5.68 billion in revenue. In the same quarter last year, the coffee chain reported earnings of 43 cents per share on $4.9 billion in revenue.

FireEye shares surge

FireEye’s GAAP loss narrowed to 75 cents per share from 88 cents per share last year, while billings grew 2% year over year to $215.4 million. The GAAP gross margin was flat year over year at 63%, while non-GAAP gross margin expanded to 74% from 73% last year.

“Our performance in the third quarter — with billings, revenue, operating margin, earnings per share and cash flow above guidance — reflected customer confidence in FireEye intelligence-led products and services,” said FireEye CEO Kevin Mandia in a statement. “We experienced strong demand for our cloud-based email security and threat intelligence solutions, as well as continued growth in renewal subscriptions. Of the 47 customers who spent more than one million dollars on FireEye solutions in the third quarter, 41 invested in multiple products.”

FireEye expects full-year revenue to come in between $716 million and $722 million. The company expects billings to be between $230 million and $250 million and revenue to be between $187 million and $193 million with a non-GAAP loss of 16 cents to 18 cents per share for the fourth quarter.

Shares of FireEye surged in after-hours trade, climbing by as much as 11.44% to $12.27.

Starbucks shares rise

Starbucks’ GAAP earnings jumped 26% to 54 cents per share, setting a new record. Global comparable store sales grew 4%, including a 5% increase in the Americas, a 4% increase in the U.S. and 6% growth in China. Analysts had been expecting global same store sales to grow 4.9%.

Starbucks expects fiscal 2017 earnings to be between $2.12 and $2.14 per share, compared to the consensus of $2.16 per share.

Shares of Starbucks jumped by as much as 3.46% to $53.54 in after-hours trades.

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