Revenue Up, Profit Down at SymantecBy Channel Insider Staff | Print
Symantec beat Wall Street analysts' projections despite a 9 percent dip in profits for the fourth quarter of 2011.
Data protection and software management provider Symantec on May 11 reported a 9 percent decline in its profits for its fourth-quarter 2011 earnings, but the company still bettered Wall Street analysts' projections.
The Mountain View, Calif.-based company that makes the popular Norton Security Suite cleared $168 million (22 cents per share) for the three-month period ending April 1, compared with earnings of $184 million (23 cents) for the same period a year ago.
Revenue improved to $1.67 billion, a 9 percent improvement from $1.53 billion last year and $70 million more than analysts had told their clients to expect to see.
Symantec's sales of new licenses climbed 11 percent to $280 million, indicating strength in potential future business from maintenance and product upgrades.
For more, read the eWEEK article: Symantec Quarterly Profits Down Slightly, but Revenue Up.