FILE PHOTO: The Symantec booth is seen during the 2016 Black Hat cyber-security conference in Las Vegas, Nevada, U.S. on August 3, 2016. REUTERS/David Becker/File Photo
August 2, 2018
(Reuters) – Antivirus software maker Symantec Corp’s <SYMC.O> revenue forecast for the current quarter missed Wall Street estimates, driving its shares down nearly 10 percent in after-hours trading on Thursday.
Symantec expects adjusted revenue of between $1.13 billion and $1.16 billion in the current quarter, largely below financial analysts’ average expectation of $1.19 billion, according to Thomson Reuters I/B/E/S.
The company, in the midst of an internal accounting probe, said on Thursday its financial results from the three months that ended in March and beyond were also under the scope of the probe.
The company spooked investors in May with news of the probe, about which the software maker has provided little detail. Its shares had fallen some 20 percent after the news.
Symantec’s overall revenue slipped 1.6 percent to $1.16 billion in the quarter ended June 29, hurt by lower demand from companies.
The company reported a loss of $63 million, compared with a loss of $133 million a year earlier.
Excluding one-time items, Symantec earned 34 cents per share, edging past analysts’ expectations of 33 cents.
(Reporting by Pushkala Aripaka and Manas Mishra in Bengaluru; Editing by Sai Sachin Ravikumar)
