International growth boosts Symantec earnings
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With strong international sales and growth in its services business, Symantec reported earnings Wednesday that beat analyst expectations.Excluding charges, revenue at the security and storage company grew 15 percent year over year, to $1.53 billion for the period ended Dec 28. Analysts had been expecting revenue of $1.45 billion, according to a consensus estimate from Thomson Financial. Earnings were $0.33 per share, ahead of the analyst estimate of $0.28 per share.Symantec&#39;s international revenue -- which represents more than half of the company&#39;s business -- grew by 21 percent year over year, Symantec said. The Europe, Middle East, and Africa region was the fastest-growing with revenues up 26 percent from the previous year. Revenue in Asia grew by 19 percent, the company said.Service sales totalled just 6 percent of Symantec&#39;s revenue, but they grew by 40 percent from the previous year.The company&#39;s consumer and enterprise security businesses grew by just 8 percent and 9 percent, respectively. Symantec&#39;s data center management group saw sales jump 11 percent over the same period.Symantec raised guidance for its full fiscal year 2008, which ends March 28. It now expects revenue to be in the range of $5.90 billion to $5.94 billion, with earnings per share between $1.24 and $1.26. Analysts had been expecting annual revenue of around $5.79 billion with earnings per share at $1.16, according to Thomson.The company&#39;s shares leapt more than 7 percent on the results in after-hours trading, reaching $16.40 late Wednesday afternoon.
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Third-quarter profit jumped 77 percent, driven by growing sales of data storage software and hardware as well as a hefty gain from the sale of an ownership stake in VMware.
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Industrial gas supplier Praxair Inc  said on Wednesday that third-quarter earnings rose, helped by strong growth in Asia and South America from new business and project start-ups.
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Upgrades, emerging markets drive Q3 volumes up
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Computer Sciences Corp. CSC.N, one  of the world's largest technology services companies, on  Tuesday posted a higher quarterly profit, driven by strong  European revenue that got a lift from the weak dollar.
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Release of a new Linux distribution and other software boost Red Hat's first quarter earnings.
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As Symantec (SYMC) pitches its products at the foremost computer security conference in San Francisco, the company is fending off questions from investors who say an attempt to expand its portfolio has hampered growth.
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Two years after its&#160;acquisition of enterprise software vendor Veritas, Symantec&#39;s consumer division remains the company&#39;s fastest-growing product line.
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InfoWorld - Two years after itsÂ acquisition of enterprise software vendor Veritas, Symantec's consumer division remains the company's fastest-growing product line.
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Quarterly profit soared thanks to new products, increased marketing and improvement in international business, the company said.
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Two years after its&#160;acquisition of enterprise software vendor Veritas, Symantec&#39;s consumer division remains the company&#39;s fastest-growing product line.Consumer business grew by about 10 percent year-over-year and represents about 30 percent of Symantec&#39;s overall business, the company said Wednesday, as it announced financial results for its second quarter of fiscal 2008, ended Sept. 28.Excluding an $87 million write-down of assets, revenue was $1.44 billion for the quarter, up 13 percent from the year-ago period. Quarterly earnings were $0.29 per share. Analysts had been expecting earnings of $0.26 per share on $1.39 billion in revenue, according to estimates compiled by Thomson Financial.Symantec&#39;s consumer business got a boost from the introduction of the much-anticipated Norton 360 software, released in late February.The company&#39;s Windows-based backup products, which include Backup Exec, also posted strong results the company said in a statement .On the enterprise side, the company&#39;s security and data management products, including the Veritas software, grew by 7 percent. These products now account for 30 percent of the company&#39;s revenue.Symantec&#39;s much smaller services business -- totaling 6 percent of revenue -- grew by 30 percent.
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This global IT services provider is seeing more growth as its sector makes a comeback.
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The security software company expects its deal making to boost growth.
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The household appliance maker said its second-quarter profit rose 77 percent as strong international growth offset weak industry demand and higher material prices.
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Healthy sales of software and technology services helped fourth-quarter profit rise 12 percent at I.B.M., which had already disclosed that the results would be way ahead of analystsâ forecasts.
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The company raises earnings guidance, boosting the stock.
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Symantec Corp. , the biggest global security software maker, on Wednesday posted a 48 percent rise in third-quarter profit, driven by strong sales that were aided by a weak dollar.