Symantec (SYMC) Tops Q1 EPS by 2c, Beats on Revenues; Offers FY18 EPS/Revenues Above Consensus

Symantec (NASDAQ: SYMC) reported Q1 EPS of $0.33, $0.02 better than the analyst estimate of $0.31. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.2 billion.

Financial Highlights

• Enterprise Security and Consumer Digital Safety segment revenue exceed first quarter GAAP and non-GAAP guidance
• Q1 GAAP revenue $1.175 billion, up 33% year over year; non-GAAP revenue $1.228 billion, up 39% year over year
• Consumer Digital Safety returned to growth
• Operating margin beats Q1 GAAP and non-GAAP guidance; cost efficiencies and integration synergies ahead of plan

Operational Highlights

• Enterprise Security continuing to win recognition for innovation through new product integrations and technology acquisitions; driving significant pipeline growth
• Consumer Digital Safety growth driven by new customer acquisition, improved retention and higher ARPU; Digital Safety bundles now available in market; Norton Core now shipping
• Recent acquisitions of Skycure and Fireglass increase capabilities in mobile and real-time browser protection
• Announced signing of definitive agreement with DigiCert to acquire Symantec’s Website Security and related PKI solutions

GUIDANCE:

Symantec sees Q2 2018 EPS of $1.79-$1.89, versus the consensus of $1.79. Symantec sees Q2 2018 revenue of $5.16-5.26 billion, versus the consensus of $5.15 billion.

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

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