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Forescout stock rallies as results, outlook beat Street

Wallace Witkowski

Forescout Technologies Inc. shares rallied in the extended session Thursday after the cybersecurity company's results and outlook topped Wall Street estimates. Forescout shares surged 10% after hours, following a 2.9% decline to close the regular session at $30.92. The company reported a fourth-quarter loss of $17.9 million, or 42 cents a share, compared with a loss of $47.4 million, or $1.73 a share, in the year-ago period. The adjusted loss was 1 cent a share. Revenue rose to $84.7 million from $62.9 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 25 cents a share on revenue of $77.8 million. Forescout expects an adjusted loss of 45 cents to 43 cents a share on revenue of $71.9 million to $74.9 million for the first quarter, and an adjusted loss of 45 cents to 37 cents a share on revenue of $363.1 million to $373.1 million. Analysts had forecast a loss of 33 cents on revenue of $71.6 million for the first quarter, and a loss of 39 cents on revenue of $348.7 million.