The company's outlook, however, troubled investors, sending Symantec shares plummeting following the results. Symantec's stock is off 11.05% to $21.90 in pre-market trading on Thursday.
For the third quarter, Symantec expects sales between $1.63 billion and $1.67 billion and earnings between 41 cents and 43 cents a share. Wall Street expects sales of $1.79 billion and earnings of 51 cents a share.
For fiscal 2014, Symantec expects revenue to decline 3% to 4% in constant currency.
Bennett took over from Enrique Salem as CEO last year, as the company wrestled with declining license sales and a slumping share price. Symantec shares have climbed more than 80% since the former Intuit (INTU) CEO and GE (GE) veteran stepped into the company's hot seat.Nonetheless, the CEO acknowledges that Symantec's turnaround is still in its early stages. "Maybe it's the bottom of the second innings and we have got a long way to go -- in July, I said we had run 1 mile of a 26-mile marathon," Bennett told TheStreet. "As crazy as it sounds, I like where we are, even with this shortfall in the third quarter because we're doing the right things to produce long-term value. I have never been more confident." When it announced its corporate overhaul in January, Symantec also revealed its plan to focus on 10 core product areas, which include information-security services, security gateways, data-center security and storage. Bennett expects to start seeing the benefits of this effort during the coming months. "I think we'll stabilize, we'll have better tools -- we have a lot of new exciting product launches coming and we're equipping our sales people to tell a new story," he said. "We're very optimistic about all the stuff coming to bear in fiscal year 2015 and starting to get us back on the winning track." Wall Street analysts, however, say that investors must now grapple with the reality of the company's turnaround. "Up until this quarter, the Symantec turnaround has been successful, in our view, although it now appears that the sales force changes, product transitions, and overall cost-cutting initiatives are creating a choppier selling environment for Symantec than was previously thought by the Street," wrote Daniel Ives, an analyst at FBR Capital Markets, in a note released on Thursday.
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