Financial Q2 Highlights

  • Q2 GAAP revenue $1.240 billion, up 27% year over year; non-GAAP revenue $1.276 billion, up 26% year over year
  • Strong Enterprise business activity from market-leading Integrated Cyber Defense platform; double digit year-over-year deferred revenue growth excluding impact from divestiture
  • Consumer Digital Safety revenue exceeds expectations, driven by strong retention and growth in average revenue per user
  • Completed previously announced cost reduction and synergy programs ahead of schedule

Operational Q2 Highlights

  • Continued focus on innovation with the introduction of Symantec Endpoint Security for the Cloud Generation, offering advanced capabilities in deception technology, mobile threat defense and Endpoint Detection and Response (EDR)
  • Continue to lead industry in cyber threat research
  • Robust demand for secure web gateway, with refresh underway
  • Rapid growth in Enterprise cloud security offerings
  • Record LifeLock enrollments; strong start to cross-sell of LifeLock into Norton customer base
  • Completed sale of Website Security and related PKI solutions to DigiCert

Symantec Corp. (NASDAQ: SYMC) has reported its second quarter fiscal year 2018 results, ended September 29, 2017.

Greg Clark, Symantec CEO said, “As large-scale, sophisticated attacks during the quarter underscored the importance of cyber security, more organizations and individuals entrusted their protection to Symantec’s Integrated Cyber Defense Platform and Consumer Digital Safety solutions. In particular, our Consumer business exceeded our expectations due to heightened demand for a single trusted partner to help protect their digital lives.”

As we completed the sale of our Website Security and related PKI solutions to DigiCert on October 31, 2017, the related revenues and expenses for the month of October are included in our guidance. Revenues from these products were $203 million and $214 million in the first six months of FY18 and FY17, respectively. Due to the impact of the sale on our GAAP operating results for Q3 FY18, and the lack of information available to estimate the resulting net gain and income (loss) from our equity ownership, we are unable to provide GAAP EPS guidance for Q3 or the full year of fiscal 2018 at this time.

About:  Symantec is the global leader in cyber security

Symantec Corporation, the world’s leading cyber security company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec’s Norton and LifeLock product suites to protect their digital lives at home and across their devices. Symantec operates one of the world’s largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats.

Source: Symantec Earnings Release