Symantec (SYMC) Tops Q3 EPS by 4c; Approves $1B Common Buyback

Symantec (NASDAQ: SYMC) reported Q3 EPS of $0.53, $0.04 better than the analyst estimate of $0.49. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.67 billion.

The company also announced that its Board of Directors has approved a $1 billion share repurchase program.

"Returning cash to shareholders has long been one of Symantec’s stated priorities,” said Michael A. Brown, Symantec president and CEO. “Over the past ten years, Symantec has returned more than $10 billion to shareholders through the purchase of common stock.”

This open-ended program is effective immediately. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice. As of January 2, 2015, Symantec had approximately $283 million remaining under its previously authorized program.

For earnings history and earnings-related data on Symantec (SYMC) click here.

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