Technology

NortonLifeLock exceeds 4th quarter targets

NortonLifeLock antivirus brand reported better-than-expected fourth-quarter financial results on Thursday. The company reported non-GAAP earnings of 26 cents per share on revenue of $ 614 million, down from $ 617 million a year earlier. Wall Street had forecast earnings of 19 cents per share on revenue of $ 601.3 million.

User-related revenues were $ 610 million, up 1% from the previous year. Average revenue per user is $ 9.07, up 3% from the previous year. NortonLifeLock reported $ 9 billion to investors during the quarter.

“In our second quarter alone, we obtained results that were better than expected, both in terms of turnover and net profit, while we focused on promoting sustainable growth”, explains Vincent Pilette , CEO of NortonLifeLock. “” With demands up 4% year over year and another quarter of sequential growth, consumers are realizing the value we bring to protecting their digital lives as they live more and more “I am extremely proud of how we supported our customers during this Covid-19 crisis and how we are laying the foundation for long-term growth.”

For the current quarter, analysts predict a profit of 20 cents per share on a turnover of 608.4 million dollars. The company, meanwhile, estimates earnings per share for the first quarter in the range of 18 to 20 cents, with revenues between $ 590 million and $ 605 million. NortonLifeLock shares increased by almost 4% after the stock market closed.

Source: .com

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