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Symantec: Fiscal 2Q Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) _ Symantec Corp. (NLOK) on Thursday reported fiscal second-quarter net income of $785 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Mountain View, California-based company said it had net income of $1.22. Earnings, adjusted for one-time gains and costs, were 18 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The security software maker posted revenue of $608 million in the period, which also fell short of Street forecasts. Nine analysts surveyed by Zacks expected $1.18 billion.

For the current quarter ending in January, Symantec expects its per-share earnings to range from 5 cents to 10 cents.

The company said it expects revenue in the range of $602 million to $612 million for the fiscal third quarter.

Symantec shares have increased 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.34, a rise of roughly 7% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NLOK at https://www.zacks.com/ap/NLOK