Market Insider

FireEye shares plunge after revenue falls short, executives depart

FireEye & Deckers Outdoor plunge on earnings

Shares of FireEye shed nearly 16 percent Friday after cybersecurity software maker's quarterly revenue fell short of Wall Street's expectations.

FireEye also said its chairman and chief financial officer would leave the company.

On Thursday, the company said it lost an adjusted 3 cents per share for its fourth-quarter, smaller than the 16 cent loss expected by analysts. Revenue came in at $184.7 million, lower than the $191 million expected, according to a Thomson Reuters consensus estimate.

"I believe that FireEye's intense and dedicated pursuit of profitability and innovation will result in growth, enable us to better fulfill our mission to our customers, and allow us to provide the greatest value to our shareholders over time," FireEye CEO Kevin Mandia said in a statement.

FireEye sees fiscal first-quarter total revenue in range of $160 million to $166 million, missing the average analyst estimate of $176.6 million.

Furthermore, David DeWalt, who became executive chairman of the board when he stepped down as CEO in June 2016, has resigned from the company. Mike Berry, FireEye's chief financial officer since 2015, is "leaving FireEye to pursue another opportunity."

FireEye said, Frank Verdecanna, FireEye's chief accounting officer, will replace him.

With Friday's losses, the stock is down about 23 percent over the past year.

FireEye 5-day chart

—Reuters contributed to this report.