MOUNTAIN VIEW, Calif. (
continued its run of strong quarterly results after market close on Wednesday, thanks to sales of its security and storage backup products.
The software maker reported fiscal third-quarter revenue of $1.715 billion, an increase of 7% compared to the prior year's quarter, edging past analysts' estimate of $1.71 billion. Excluding items, Symantec earned 42 cents a share in the December-ended period, up from 35 cents in the year-ago quarter, and above Wall Street's forecast of 41 cents a share.
Symantec reported strong third-quarter results on Wednesday.
"Through consistent execution of our strategy, we met or exceeded revenue and earnings for the sixth consecutive quarter," said Enrique Salem, the Symantec CEO, in a statement. "With unprecedented information growth and the increasingly toxic threat landscape, customers understand the value of our portfolio and we continue to see good demand for our products and services across all geographies."
Symantec, which competes with
, now part of
, cited particularly strong demand for its data loss prevention, authentication, managed security services and backup offerings.
For its fiscal fourth quarter ending in March, Symantec expects revenue between $1.72 billion and $1.73 billion and earnings between 41 and 42 cents a share. Analysts surveyed by
currently expect revenue of $1.75 billion and earnings of 43 cents a share. Salem, however, told
that, when adjusted for the effects of currency, the company's guidance is in line with consensus.
Symantec's board also authorized a $1 billion share repurchase program after market close on Wednesday.
Shares of Symantec crept up 9 cents, or 0.53%, to $17.15 in extended trading.
Written by James Rogers in New York.
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