Tech CEOs: Here's Where the Growth Lies
Todd Headley, the Sourcefire CFO, said in an interview that the firm has largely side-stepped broader economic challenges. "We're probably small enough that we don't see the full effect of that," he said. "Even given the macroeconomic backdrop relative to the technology we provide, there appears to be a growing need for what we do."
Weak third-quarter earnings guidance, however, weighed heavily on the company's stock, pushing its shares down more than 15% on Wednesday.
Cloud specialist Medidata Solutions(MDSO) also reported its second-quarter results on Tuesday, raising its full-year revenue guidance.
Medidata CEO Tarek Sherif shrugged off talk of a spending slowdown. "We're actually seeing quite the opposite," he said. "We had strength in Europe, and I think that really speaks to the value of what we're bringing to our customers."
Shares of the New York-based firm, which provides cloud services to support pharmaceutical and biotech firms' clinical trials, have gained almost 60% this year.
--Written by James Rogers in New York.
>To submit a news tip, send an email to: email@example.com.