Symantec Q2 Profit Tops Estimate

(RTTNews) - Symantec Corp. (SYMC) reported net income for the second quarter of $244 million or $0.35 per share, compared to $241 million or $0.34 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $332 million or $0.48 per share, compared to $359 million or $0.51 per share in the prior year quarter.

Revenue for the second quarter fell 1% to $1.62 billion from $1.64 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.43 per share on revenue of $1.62 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $1.65 billion to $1.69 billion, earnings of $0.31 to $0.34 per share and adjusted earnings of $0.47 to $0.50 per share. Analysts currently expect the company to earn $0.50 per share on revenue of $1.70 billion for the third quarter.

For the fiscal year 2015, the company now expects revenue of $6.60 billion to $6.68 billion, earnings of $1.31 to $1.36 per share and adjusted earnings of $1.88 to $1.93 per share. Previously, the company forecast revenue of $6.63 to $6.77 billion, earnings of $1.43 to $1.51 per share and adjusted earnings of $1.84 to $1.92 per share. Analysts currently expect the company to earn $1.88 per share on revenue of $6.71 billion for the fiscal year 2015.