Published on 8 Nov 2021 on Zacks via Yahoo Finance

Mandiant (MNDT) Q3 Loss Widens, Sales Top, Stock Down 6%

Shares of Mandiant MNDT plunged 5.5% on Friday after the company reported lower-than-expected bottom-line result for third-quarter 2021. The cyber defense, intelligence and response solution provider posted a non-GAAP loss from continuing operations of 15 cents per share, which is wider than the year-ago quarter’s loss of 13 cents. The Zacks Consensus Estimate for third-quarter earnings was pegged at 6 cents.

However, Mandiant’s third-quarter revenues of $122 million surpassed the Zacks Consensus Estimate of $120 million. Also, the top-line registered a 22% increase from the year-ago quarter’s revenues of $100 million.

This was Mandiant’s first quarterly results, following the divestiture of its FireEye Product business. On Oct 8, the company completed the sale of its FireEye Product business to a consortium led by the private-equity firm Symphony Technology Group in an all-cash transaction worth $1.2 billion.