Symantec (SYMC) Tops Q1 EPS by 4c, Issues Strong Rev Guidance, Mixed EPS

Symantec (NASDAQ: SYMC) reported Q1 EPS of $0.29, $0.04 better than the analyst estimate of $0.25. Revenue for the quarter came in at $884 million versus the consensus estimate of $876.96 million.

GUIDANCE:

Symantec sees Q2 2017 EPS of $0.18-$0.21, versus the consensus of $0.26. Symantec sees Q2 2017 revenue of $960-990 million, versus the consensus of $878.18 million.

Symantec sees FY2017 EPS of $1.08-$1.14, versus the consensus of $1.08. Symantec sees FY2017 revenue of $4.04-4.12 billion, versus the consensus of $3.53 billion.

Greg Clark, Symantec CEO, said, “We are pleased to have quickly and successfully completed the Blue Coat acquisition, allowing us to begin executing our integration strategy. Symantec is now positioned to take advantage of the vast market opportunities in helping customers embrace the cloud, protecting the mobile workforce and securing enterprises, governments and consumers from advanced attacks. We have a deep bench of talent across all functions focused on executing our strategic initiatives, maintaining strong sales performance and achieving our financial targets.”

Thomas Seifert, Symantec CFO, said, “Our revenue was above the mid-point of our guided range for Q1, driven by improved performance within Enterprise Security and continued in-line results from Consumer Security. With the Blue Coat acquisition complete, we are well positioned to accelerate our strategy as the world’s largest pure play cyber security company and achieve alignment across the organization. In addition, we continue to make progress in realizing cost efficiencies and synergies by the end of fiscal 2018.”

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

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