With consumer business boost, Symantec turns a profit

Consumer business was up 9 percent year over year, while enterprise divisions were flat

Although sales were flat in its enterprise businesses, a jump in consumer sales helped Symantec boost earnings by about 5 percent during its most recent quarter.

Symantec beat expectations for its fourth quarter, ended April 2, posting revenue of US$1.535 billion and earnings of $0.40 per share, excluding charges. Financial analysts had been expecting earnings to be closer to $0.37 per share, according to a survey by Thomson Reuters. Symantec's earnings were up 5 percent from its year-ago total of $0.38 per share.

Company results were helped by a strengthening U.S. currency. While revenue was up 3 percent year over year, it was flat when adjusting for currency fluctuations, Symantec said.

The company's consumer business -- which accounts for 31 percent of sales -- was up 9 percent year over year. Revenue from the company's enterprise security products was up just 2 percent, and revenue from storage and server management products -- nearly 40 percent of the company's business -- was down 1 percent.

In an interview, Symantec CEO Enrique Salem said he was pleased with the results, noting that the company was generating cash and saying that Symantec's hosted security services, data loss prevention and backup businesses all did well.

Symantec hopes to give its back-up and hosted services products a further boost in the coming quarters as it integrates encryption products from its $370 million acquisitions of PGP and GuardianEdge Technologies, announced last week. Those deals are waiting on regulatory approval, which is expected in the next few months.

Consumer sales did well because Symantec's flagship Norton products are winning reviews, Salem said. The consumer business has been growing for six consecutive quarters. "Our consumer products are by now the best in the world," he said.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags symantecsecurityfinancial results

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Robert McMillan

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?