“Our integrated platforms with best-in-class solutions for both consumer and enterprises drove continued adoption in the third quarter,” said Greg Clark, Symantec President and CEO. “We achieved operating results in line or above guidance, while delivering strong cash flow from operations. Enterprises recognize the superior protection, cross-product integration and the lower overall cost of ownership of our Integrated Cyber Defense platform. Our Consumer Digital Safety platform, built around the core tenets of Malware, Identity Protection and Privacy are resonating with consumers, driving increased retention rates and consumer digital safety adoption. Based on the outperformance of Enterprise Security revenue in the third quarter, we are raising our revenue and EPS guidance for the remainder of fiscal year 2019. We are also pleased to announce that in the fourth quarter, the Board of Directors has authorized an increase to our existing share repurchase authorization to $1.3 billion.”
To help readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. The methods we use to produce non-GAAP results are not in accordance with GAAP and may differ from the methods used by other companies. Additional information regarding our non-GAAP measures are provided below.
Third Quarter Fiscal 2019 Financial Highlights
- GAAP revenue was $1.211 billion, (vs 2,009) non-GAAP revenue was $1.218 billion
- GAAP operating margin of 14%, non-GAAP operating margin of 32%
- GAAP diluted EPS was $0.10, non-GAAP diluted EPS was $0.44
- Cash flow from operating activities of $377 million
Source: Symantec Earnings Release