Forescout stock rallies 10% on surprise profit
Forescout Technologies Inc. FSCT, +0.46% shares surged in the extended session Thursday after the cybersecurity company reported a surprise adjusted profit. Forescout shares rallied nearly 10% after hours, following a 0.5% rise to close the regular session at $28.11. The company reported a third-quarter loss of $8.3 million, or 20 cents a share, compared with $1.3 million, or 21 cents a share, in the year-ago period. Adjusted earnings were 10 cents a share. Revenue rose to $85.6 million from $69.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 11 cents a share on revenue of $79.1 million. For the fourth quarter, Forescout expects an adjusted loss of 26 cents to 24 cents a share on revenue of $75.8 million to $78.8 million, while analysts had forecast a loss of 28 cents a share on revenue of $76.4 million. Also, Forescout said it acquired operational technology network protection company SecurityMatters for $113 million in cash.
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