Symantec Results In-line With Profit Warning, Releases Outlook

By Markets MarketWatch Pulse

Symantec Corp. shares were little changed in the extended session Thursday after the computer security company released its outlook for the year, and made good on a profit warning issued in late April. Symantec shares slipped less than 0.1% to $16.90 after hours. The company forecast adjusted fiscal first-quarter earnings of 24 cents to 26 cents a share on revenue of $865 million to $895 million. For the year, Symantec sees adjusted earnings of $1.06 to $1.10 a share on revenue of $3.49 billion to $3.58 billion. Analysts surveyed by FactSet forecast 24 cents a share on revenue of $880.8 million for the first quarter, and $1.09 a share on revenue of $3.52 billion for the year. The company reported adjusted fiscal fourth-quarter earnings of 22 cents a share on revenue of $873 million, as had been announced in late April. Back then, Symantec cut its earnings and revenue estimates and said Chief Executive Michael Brown was stepping down.

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