Symantec Revenue Declines, Misses Estimates
May 09 2019 - 5:07PM
Dow Jones News
By Patrick Thomas
Symantec Corp. (SYMC) swung to a profit in its fourth quarter,
but revenue declined more than analysts had expected.
The California-based cybersecurity software provider reported a
profit of $34 million, or 5 cents a share, compared with a loss of
$59 million, or 10 cents a share, a year ago.
The company reported adjusted earnings of 39 cents a share, as
analysts polled by FactSet were expecting earnings of 34 cents a
share.
Total operating expenses fell to $803 million from $940 million
a year earlier. The year-earlier period contained $132 million in
restructuring costs.
Revenue fell about 2% to $1.19 billion, slightly less than what
analysts had forecast.
For its current fiscal year, the company said it expects revenue
between $4.75 billion and $4.89 billion and earnings between 57
cents and 73 cents a share.
For its current quarter, the company expects to generate between
$1.17 billion and $1.2 billion in revenue.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
May 09, 2019 16:52 ET (20:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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