Seeking Alpha

Symantec FQ2 guidance light, FY14 guidance reaffirmed; shares +3.5% AH

  • FQ2 guidance is for revenue of $1.65B-$1.69B and EPS of $0.42-$0.44, below a consensus of $1.71B and $0.45.
  • FY14 guidance for 0%-2% rev. growth and 5%-7% EPS growth (implies range of $1.86-$1.89) is reaffirmed. Consensus is for 1% rev. growth and EPS of $1.89.
  • Symantec's (SYMC) PC security/mobile software sales (43% of total) -1% Y/Y. Enterprise security (20% of total) +7%, storage software (37% of total) +4%.
  • Americas sales (55% of total) +3%, EMEA +8%, Asia-Pac -5%.
  • Deferred revenue balance at $3.81B, -5% Q/Q and +2% Y/Y.
  • Opex roughly flat Y/Y and -4% Q/Q exc. restructuring costs.
  • $125M spent on buybacks, same as FQ4.
  • CC at 5PM ET (webcast)
  • FQ1 results, PR
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