Symantec: Fiscal 1Q Earnings Snapshot
Aug. 02, 2018
MOUNTAIN VIEW, Calif. (AP) _ Symantec Corp. (SYMC) on Thursday reported a loss of $63 million in its fiscal first quarter.
On a per-share basis, the Mountain View, California-based company said it had a loss of 10 cents. Earnings, adjusted for one-time gains and costs, were 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The security software maker posted revenue of $1.16 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $1.15 billion.
For the current quarter ending in October, Symantec expects its per-share earnings to range from 31 cents to 35 cents.
The company said it expects revenue in the range of $1.12 billion to $1.15 billion for the fiscal second quarter.
Symantec expects full-year earnings in the range of $1.47 to $1.57 per share, with revenue ranging from $4.64 billion to $4.76 billion.
Symantec shares have fallen 26 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 6 percent. In the final minutes of trading on Thursday, shares hit $20.88, a drop of 32 percent in the last 12 months.