Overview
- Revenue rose to $813.35 million and adjusted EPS reached $1.01, both ahead of consensus estimates.
- Billings increased 10% year over year to $829.5 million as subscription revenue grew 9% to $801 million; free cash flow was $262.9 million with $215.1 million in share repurchases and roughly $1 billion in cash.
- The company guided fourth-quarter revenue to $825 million to $829 million and billings to $992 million to $1.002 billion, and raised full-year revenue guidance to $3.208 billion to $3.212 billion.
- Shares fell about 4% in after-hours trading following the release and were recently down 6.5% Friday near $66.52.
- Post-earnings, analysts at Baird, B of A Securities and Wedbush kept Neutral ratings and cut price targets to $75, $82 and $75, respectively.