Why FireEye Stock Dropped Today

Shares of FireEye (NASDAQ: FEYE) fell as much as 13.4% early Wednesday, then partially recovered to trade down 7% as of 1:45 p.m. EDT, after the cybersecurity platform company announced mixed second-quarter 2019 results and lowered its full-year guidance.

On the former, FireEye's quarterly revenue grew 7.4% year over year to $217.6 million, above the high end of its outlook for a range of $213 million to $217 million. That translated to an adjusted net loss of $1.7 million, or $0.01 per share, below guidance calling for breakeven to net income of $0.02 per share.

FireEye's billings also climbed 13% to $221 million, near the top of the company's outlook for a range of $207 million to $222 million.

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