Symantec (SYMC) To Report Q1 Earnings: What Lies Ahead?
Zacks Investment Research | Aug 04, 2019 09:53PM ET
Symantec Corporation (NASDAQ:SYMC) is scheduled to report first-quarter fiscal 2020 results on Aug 8.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average positive surprise being 10.78%.
In the last reported quarter, Symantec reported earnings per share of 39 cents that matched the Zacks Consensus Estimate. The figure, however, declined 15.2% year over year.
On a non-GAAP basis, Symantec generated revenues of $1.195 billion, which missed the consensus estimate of $1.208 billion. Moreover, revenues were down 2.2% from the year-ago quarter.
The top line was hurt by lower-than-expected bookings in the Enterprise Security segment.
What to Expect in Q1
For the first quarter of fiscal 2020, Symantec anticipates non-GAAP revenues in the range of $1.18-$1.21 billion. At midpoint, it indicates 3.5% growth. The Zacks Consensus Estimate stands at $1.19 billion, indicating growth of 2.65% from the year-ago quarter figure.
Further, management estimates earnings between 30 cents and 34 cents on a non-GAAP basis. The consensus estimate is pegged at 43 cents, indicating a decline of 5.88% from the year-ago reported figure.
Let's see how things are shaping up for the upcoming announcement.
Symantec Corporation Price and EPS Surprise
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