Symantec Earnings Summary & What To Expect Through Fiscal 2019

by Trefis Team
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Symantec (NYSE:SYMC) announced its fiscal fourth quarter 2018 earnings on May 10, reporting a 10% increase in net revenues to $1.22 billion. While consumer digital safety revenues rose a massive 33% on a y-o-y basis to $613 million for the quarter, enterprise security revenues fell 7% to $609 million. Revenues from recent acquisitions, notably Blue Coat and Fireglass, have helped drive consumer security revenues. Similarly, the company refreshed its cloud security product portfolio at the end of FY’17 to help customers secure public cloud infrastructure and Platform-as-a-Service. This resulted in accelerated revenue growth in the enterprise space through the first half of FY’18, which slowed down slightly through the December and March quarters.

Going forward, Symantec’s management expects revenues to increase in the low single digits through FY’19 due to tougher year-over-year comparisons. On an organic basis, Symantec’s consumer security revenues are expected to increase 3% while enterprise revenues are expected to be roughly flat over FY’18 levels. We expect the adjusted operating profit margin to be almost a percentage point higher on a y-o-y basis to 38% for the current fiscal year. A similar trend was observed in recent quarters as well. Based on these estimates, we forecast Symantec’s net income and EPS to increase 11-12% on a y-o-y basis for the year. We have created an interactive analysis where you can change expected segment revenue and margin figures to gauge how it will impact expected EPS for the year.

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