Undaunted By Microsoft Security Push, Symantec Continues Growth Path - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Undaunted By Microsoft Security Push, Symantec Continues Growth Path

Quarterly revenue grew more than 40%, as Symantec executives vowed to both partner with and compete against Microsoft.

If Microsoft's tepid entrance into the PC security market--with the enhanced security capabilities of Windows XP Service Pack 2 and its recently announced anti-spyware beta application--are going to cut into the earnings of Internet security companies, it hasn't happened yet. At least not in the earnings reported by Symantec Corp. on Wednesday.

Symantec executives showed little concern during an investor conference call Wednesday about Microsoft's foray into their territory. Symantec executives said they believe they'll continue to compete with Microsoft as well as partner with the company.

For its fiscal third quarter ended Dec. 31, Symantec reported revenue of $695 million, up 41% from the same period last year when the company posted $494 million. Net income for the quarter, at $164 million, rose 38% from third-quarter 2003 revenue of $111 million.

The company's consumer software revenue represented 52% of its total revenue and grew 49% year over year. Symantec's sales to businesses--which include corporate security, administration, and services--also grew at a healthy clip of 33% and represent 48% of the company's total revenue. International revenue represents 54% of the company's total revenue.

Symantec expects revenue of between $690 million and $710 million for its fiscal fourth quarter, which would mark 24% or better sales growth from the previous year.

Earlier this week, Symantec said a team will work to manage its $13.5 billion all-stock acquisition of Veritas Software Corp., disclosed on Dec. 16. Veritas CFO Ed Gillis will lead the integration. At the time of the acquisition, Symantec executives said the Veritas acquisition would create a company capable of providing security and information-availability products and services for everyone from home users to large data centers.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
Slideshows
10 Ways to Transition Traditional IT Talent to Cloud Talent
Lisa Morgan, Freelance Writer,  11/23/2020
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Commentary
Can Low Code Measure Up to Tomorrow's Programming Demands?
Joao-Pierre S. Ruth, Senior Writer,  11/16/2020
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll