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Symantec: Fiscal 1Q Earnings Snapshot

August 8, 2019

MOUNTAIN VIEW, Calif. (AP) _ Symantec Corp. (SYMC) on Thursday reported fiscal first-quarter net income of $26 million, after reporting a loss in the same period a year earlier.

The Mountain View, California-based company said it had net income of 4 cents per share. Earnings, adjusted for amortization costs and stock option expense, were 43 cents per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The security software maker posted revenue of $1.25 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $1.19 billion.

For the current quarter ending in October, Symantec expects its per-share earnings to range from 40 cents to 44 cents.

The company said it expects revenue in the range of $1.16 billion to $1.21 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.19 billion.

Symantec shares have risen 21% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 17%. In the final minutes of trading on Thursday, shares hit $22.92, a rise of 18% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYMC at https://www.zacks.com/ap/SYMC

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