The security software vendor saw revenue climb 24% and raised expectations for the year.
IT security software maker Symantec Corp. on Wednesday reported first-quarter net income of $68.2 million, or 41 cents a share, up sharply from $56.6 million, or 36 cents a share, in the year-ago quarter. The company reported total revenue for the quarter ended July 4 of $391 million, a 24% increase over $316 million reported for the same quarter last year.
As a result of the strong quarter, Symantec raised its revenue guidance for the year from $1.65 billion to $1.665 billion.
Analysts have been concerned that Symantec's consumer ant virus and personal firewall business would stall. But for the quarter, Symantec's consumer business grew 35% and represented 43% of total revenue. Symantec's corporate security gear grew 25% and represented 42% of revenue.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.