Boston, MA 08/08/2014 (wallstreetpr) – According to reports, Symantec Corporation (NASDAQ:SYMC) has reported adjusted earnings of 41 cents per share in the Q1 fiscal 2015. It is slightly more than the Zacks Consensus Estimate of 37 cents. The company earned 37 cents per share a year ago during the same time.
Revenue Vise Financial Results:
On the basis of company’s performance in the recent past, market experts anticipated a Zacks Consensus Estimate of $1.66 billion for SYMC, but Symantec Corporation (NASDAQ:SYMC) did way better than the market expectations and closed the fiscal quarter at $1.74 billion. These numbers denote non-GAAP earnings. Over the past one year, SYMC has explored market conditions pretty well, as a result of a good performance it managed to grow at a rate of 1.5% in terms of non-GAAP revenues. The revenues from user protection & productivity segment were $740.0 million for the entire year while Information Management revenues were calculated as much as $345 million.
Reason behind rise in revenues:
The main reason behind rise in non-GAAP revenues and adjusted earnings is but the increment in the sales force of SYMC. Reports claim that the company managed to report more than expected sales figures in federal business as well as in North America region. Due to this extra-ordinary performance in these two regions, Symantec Corporation (NASDAQ:SYMC) managed to grow at a very good rate. The other reasons behind the growth in revenues includes strong backup appliances, trust services businesses and effective data loss prevention.
The company managed to earn maximum revenues from maintenance, subscription and content segment i.e. 91% of total revenue. It grew at a rate of 3.6% on YOY basis. Although Symantec Corporation (NASDAQ:SYMC)’s revenues from licenses didn’t perform up to the mark and decreased at a rate of 14.8% on YOY basis, but excellent growth on maintenance, content and subscription offset it. The company managed to grow at a rate of 3% in the international market in terms of revenues.
