NortonLifeLock Inc. (NLOK) Tops Q4 EPS by 7c, Revenues Beat; Offers 1Q Revenue Guidance Below Consensus, Provides 1Q EPS Outlook

NortonLifeLock Inc. (NASDAQ: NLOK) reported Q4 EPS of $0.26, $0.07 better than the analyst estimate of $0.19. Revenue for the quarter came in at $614 million versus the consensus estimate of $601.3 million.

Fourth Quarter GAAP Financial Highlights from Continuing Operations

• Revenue was $614 million, compared to $617 million a year ago
• GAAP diluted EPS was $0.23, compared to $0.06 a year ago

Fourth Quarter Operational and Non-GAAP Financial Highlights from Continuing Operations

• Consumer revenue was $610 million, up 1% year-over-year in constant currency
• Non-GAAP diluted EPS was $0.26, compared to $0.16 a year ago, up 63% year-over-year
• Consumer reported billings growth of 3% year-over-year
• Average revenue per user of $9.07, up 3% year-over-year

“In only our second quarter as NortonLifeLock, we drove better than expected results on both the top and bottom lines as we turned our focus to driving sustainable growth. With consumer bookings up 4% year-over-year and another quarter of sequential customer growth, consumers are seeing the value we provide in protecting their digital lives as they live more and more online,” said Vincent Pilette, CEO of NortonLifeLock. “I am extremely proud of how we supported our customers during this COVID-19 crisis and how we are laying the foundation for long term growth.”

GUIDANCE:

NortonLifeLock Inc. sees Q1 2021 EPS of $0.18-$0.22, versus the consensus of $0.20. NortonLifeLock Inc. sees Q1 2021 revenue of $590-605 million, versus the consensus of $608.42 million.

• Revenue in the range of $590 to $605 million, 0 to 2% growth adjusting for extra week ($44 million) and ID Analytics revenue ($14 million) in first quarter fiscal year 2020
• Non-GAAP EPS in the range of $0.18 to $0.22

NortonLifeLock’s Board of Directors has declared a quarterly cash dividend of $0.125 per common share to be paid on June 24, 2020 to all shareholders of record as of the close of business on June 10, 2020.

For earnings history and earnings-related data on NortonLifeLock Inc. (NLOK) click here.

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