Symantec shares up 4.5% on earnings and guidance beats

|About: Symantec Corporation (SYMC)|By:, SA News Editor

Symantec (NASDAQ:SYMC) reports Q1 results with revenue and EPS beats. Consumer Digital Safety segment revenue was $529M, up 31% on the prior year’s quarter. Enterprise Security revenue was up 34% to $646M.

Symantec ended the quarter with $2.3B in cash and equivalents and reported a $110M loss from operations. 

Divestiture announcement: Symantec announces that DigiCert will acquire the company’s Website Security and related PKI solutions. DigiCert will pay $950M in upfront cash and provide a 30% stake. Deal expected to close in 3Q18. 

Q2 guidance puts revenue between $1.26B and $1.29B with diluted EPS of $0.40 to $0.44. Consensus estimates have revenue at $1.27B and EPS at $0.43. 

FY18 guidance has revenue of $5.16B and $5.26B with diluted EPS of $1.79 to $1.89, compared to analyst estimates of $5.15B and $1.79, respectively. 

Press release 

Symantec shares are up 4.5% aftermarket.  

Previously: Symantec beats by $0.02, beats on revenue (Aug. 2)

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