Symantec 1Q profit rises 50 percent, beats forecast

Symantec Corp. (SYMC) on Wednesday reported earnings that increased by 50 percent in its fiscal first quarter, and topped analysts' expectations.

The Mountain View, California-based maker of computer security software said net income increased to $236 million, or 34 cents per share, from $157 million, or 22 cents per share, in the same quarter a year ago.

Earnings, adjusted for one-time gains and costs, came to 45 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The security software maker said revenue climbed 1.5 percent to $1.74 billion from $1.71 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $1.67 billion, according to Zacks.

Symantec shares have risen 15 cents, or less than 1 percent, to $23.73 since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 4 percent. However, the stock has declined $2.93, or 11 percent, in the last 12 months.


Keywords:Symantec,Earnings Report