McAfee Tops Earnings Estimates

Security software maker McAfee(MFE Quote - Cramer on MFE - Stock Picks) blew past analyst expectations for the second quarter and offered a strong third-quarter outlook.

Net income soared to $49.4 million, or 30 cents a share, from $31.4 million, or 19 cents a share, a year earlier.

Excluding items, the company reported earnings of 41 cents a share. Analysts polled by Thomson Financial were expecting EPS of 37 cents.

Revenue was up 13% to $314 million from $277.4 million, higher than Street expectations of $306.49 million.

For the third quarter, McAfee expects revenue in the range of $305 million to $325 million.

Excluding items, it has guided earnings in the range of 36 cents to 41 cents a share.

Analysts had been expecting earnings of 39 cents a share on revenue of $315.59 million.

For the full year, McAfee expects revenue of $1.26 billion to $1.3 billion and earnings of $1.61 to $1.71 a share, bracketing analysts' expectations of revenue of $1.26 billion and earnings of $1.63 a share.

Shares of McAfee closed down 2.2% on Thursday to $34.85.