CUPERTINO, Calif. (
-- Shares of
surged in extended trading after the security software specialist beat Wall Street's
for its fiscal second-quarter results, despite a year-over-year profit dip.
The company reported revenue of $1.48 billion for the three months ended Sept. 30, up 2% from the year-ago equivalent period adjusted for currency. Analysts surveyed by
were looking for sales of $1.46 billion in the quarter.
Excluding items, Symantec earned 34 cents a share, down slightly from 36 cents in the prior year's quarter, but well above Wall Street's 28 cent forecast.
Investors responded positively to the numbers, driving Symantec's shares up 5.38% to $16.65 in after-hours trading.
, Symantec saw strong demand for its products in both the public and private sectors.
business closed the quarter on a very strong note," James Beer, the Symantec CFO, told
. "We had good results around our backup and archiving
and our hosted services."
Specifically, Symantec saw double-digit growth in its Data Loss Prevention (DLP), hosted services, and archiving products while the firm's archiving business grew in the mid single-digits.
This helped offset continued weakness in Symantec's storage management offerings. Beer also noted strong sales in the government sector. "
This was across our portfolio in both the civilian and the military agencies," he said.
Symantec, which was coming off a disappointing first quarter, also offered bullish guidance, projecting third-quarter sales between $1.57 billion and $1.59 billion. The current average estimate of analysts polled by
is for revenue of $1.56 billion in the December period.
Excluding items, Symantec expects earnings of 32 to 33 cents a share, compared to Wall Street's forecast of 32 cents a share.
Beer also noted that Symantec is yet to see any impact from
$7.7 billion acquisition of rival software maker
, which has
"I wouldn't say that we have seen anything material yet," said the Symantec CFO. "I think that there are more opportunities for us coming there later."
--Written by James Rogers in New York.
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