Big-Biz Market Boosts Symantec
Security software market leader Symantec reported better-than-expected revenue for its first financial quarter, reflecting strong demand from enterprise clients.
While Symantec has been hurt by slowing PC sales it recently bought privately held Blue Coat which markets security and cloud protection to a claimed 15,000 organisations. “The high-end of enterprise … have a huge cloud migration going on and we are doing extremely well in that space,” said Blue Coat CEO Greg Clark.
Symantec’s net income for the quarter ended July 1 rose to $135 million from $117 million a year earlier. Revenue fell three percent to $884 million, while enterprise division sales dipped 0.2 percent to $481 million.
The company said it expects adjusted revenue of $960 million to $990 million for the second quarter