Symantec (SYMC, $21.02) beats earnings and revenue estimates in latest quarter; stock jumps +5.8% in early trading

Symantec Corp. reported adjusted earnings of 44 cents a share in the third quarter, beating analysts' expectation of 39 cents a share. At $1.21 billion, revenues too outpaced Wall Street estimates of $1.18 billion.

For the current quarter ending in March, the cybersecurity software company projects earnings to be in the range of 37 cents to 41 cents a share. The company is expecting revenue in the range of $1.19 billion to $1.22 billion for the fiscal fourth quarter. Analysts’ revenue expectation is $1.21 billion. 

For the full-year, Symantec expects full-year earnings in the range of $1.57 to $1.61 a share, and revenue between $4.76 billion and $4.79 billion.

Symantec shares climbed +5.84% in early Friday.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.