Symantec Q1 Misses, Q2 Forecast Light; Stock Off Seven Percent

Computer security software maker Symantec (SYMC) this evening reported fiscal Q1 sales and earnings that missed estimates and forecast Q2 revenue and profit below estimates.

Non-GAAP revenue of $1.44 billion was down 13 percent, year over year, and slightly below the $1.49 billion analyst estimate, while profit per share of 34 cents was a penny light of estimates.

Forex played a big role, with sales down only 4 percent when measured in constant-currency terms.

The company forecast Q2 sales of $1.4 billion to $1.45 billion, below the roughly $1.5 billion estimate on the Street. Earnings per share excluding some costs is expected to be between 32 cents and 34 cents, below the average 36-cent estimate.

Read the rest of this post on the original site


comments so far. Add yours.

Must-Reads from other Web sites

Daniel Terdiman

Meet the Tireless Entrepreneur Who Squatted at AOL

Felix Salmon

Mark Zuckerberg’s Unpleasant New Life

Simon Rogers

Anyone Can Do It. Data Journalism Is the New Punk.

Rachel Strugatz

Fashion World Mulls Facebook IPO’s Impact

Jeffrey R. Young

The Unabomber’s Pen Pal

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.

Latest Video

View all videos »

Search »