Symantec Q3 Results Top Estimates

(RTTNews) - Symantec Corp. (SYMC) reported net income for the third quarter of $283 million or $0.40 per share, compared to $216 million or $0.31 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $358 million or $0.51 per share, compared to $317 million or $0.45 per share in the prior year quarter.

Revenue for the third quarter fell 5% to $1.71 billion from $1.79 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.43 per share on revenue of $1.66 billion for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue of $1.615 billion to $1.655 billion, earnings per share of $0.29 to $0.31 and adjusted earnings per share of $0.40 to $0.42.

Analysts currently expect the company to earn $0.41 per share on revenue of $1.65 billion for the fourth quarter.

For the fiscal year 2014, the company now expects revenue of $6.666 billion to $6.706 billion, earnings per share between $1.25 and $1.27 and adjusted earnings per share between $1.85 and $1.87.

Previously, the company expected fiscal 2014 revenue to decline 3% to 4% in constant currency and adjusted earnings per share to be between -1.0% and 1.5% compared to the prior fiscal year .

Analysts currently expect the company to earn $1.77 per share on revenue of $6.66 billion for the fiscal year 2014.