The 10-second takeaway
For the quarter ended March 30 (Q4), Symantec met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share improved significantly.
Gross margins shrank, operating margins contracted, net margins grew.
Symantec logged revenue of $1.68 billion. The 18 analysts polled by S&P Capital IQ expected to see revenue of $1.68 billion on the same basis. GAAP reported sales were 0.5% higher than the prior-year quarter's $1.67 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.38. The 22 earnings estimates compiled by S&P Capital IQ anticipated $0.38 per share. GAAP EPS of $0.76 for Q4 were 245% higher than the prior-year quarter's $0.22 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 84.4%, 80 basis points worse than the prior-year quarter. Operating margin was 13.5%, 280 basis points worse than the prior-year quarter. Net margin was 33.3%, 2,330 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.66 billion. On the bottom line, the average EPS estimate is $0.38.
Next year's average estimate for revenue is $6.89 billion. The average EPS estimate is $1.67.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 532 members out of 625 rating the stock outperform, and 93 members rating it underperform. Among 157 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 131 give Symantec a green thumbs-up, and 26 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Symantec is outperform, with an average price target of $21.41.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.