SANTA CLARA, Calif. ( TheStreet) -- Software company McAfee enjoyed an 18% second-quarter sales hike and beat analysts' profit estimate as the security specialist increased the pressure on its competitors. Both the company's corporate and consumer businesses enjoyed healthy growth during the quarter, with sales rising 21% and 13%, respectively, compared to the second quarter of 2008. McAfee, which was one of TheStreet.com's top tech picks for 2009, reported record second-quarter revenue of $469 million, up from $397 million in the same period last year, but just above Wall Street's forecast of $466.87 million. Currency fluctuations, however, had a negative impact of $22 million on McAfee's revenue year over year. The Silicon Valley firm's adjusted earnings were 60 cents a share on net income of $94.7 million, up from 52 cents a share and $83.8 million in the year-ago quarter. Analysts surveyed by Thomson Reuters had forecast earnings of 57 cents a share. On a diluted basis, McAfee earned 18 cents a share on net income of $28.7 million, down from 30 cents a share and $47.8 million in the prior year's quarter. McAfee's rival Symantec saw its sales dip when it reported its first-quarter results earlier this week, missing analysts' estimates. There had been rumblings that Symantec was losing market share, something which McAfee CEO Dave DeWalt touched on in a statement released after market close. "Our continued market share gains prove customers and partners choose McAfee for security leadership," he said. "For the second quarter of 2009, we are proud to report quarterly records in revenue, deferred revenue, non-GAAP operating income."
McAfee, which announced plans to acquire privately-held Software-as-a-Service (SaaS) specialist MX Logic for $140 million earlier today, expects third-quarter revenue between $475 million and $495 million. Analysts had forecast third-quarter sales of $477.77 million. Excluding charges, McAfee expects earnings between 58 cents a share and 62 cents a share, in line with Wall Street's projection of 59 cents a share. The company's shares dipped 6 cents, or 0.14%, to $42.50 in extended trading. Reported by James Rogers in New York