Proofpoint (PFPT) Tops Q3 Earnings, Down On Tepid '18 View
Zacks Investment Research | Oct 20, 2017 08:58AM ET
Keeping its positive surprise history alive, Proofpoint Inc. (NASDAQ:PFPT) yesterday reported solid results for third-quarter 2017, marking the seventh consecutive quarter of better-than-expected performance for both, the top as well as the bottom line. Also, revenues and earnings both came ahead of the company’s guidance ranges.
Apart from this, Proofpoint witnessed significant year-over-year improvement in revenues and earnings. Buoyed by overwhelming third-quarter results, the company also raised the outlook for 2017.
However, the company’s outlook for the next year is somewhat disappointing as its revenues and non-GAAP earnings per share guidance ranges at mid-point came in below analysts’ estimates. This made investors a little cautious over Proofpoint’s long-term prospects, resulting in a plunge of approximately 4% in the company’s shares price in the after-hour trade.
Nonetheless, the company has outperformed the Zacks Investment Research
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