Symantec: Fiscal 2Q16 Financial Results
Information management revenue transferred to Veritas decreasing 4% Y/Y at $593 million
This is a Press Release edited by StorageNewsletter.com on November 9, 2015 at 3:34 pm| (in $ million) | 2Q15 | 2Q16 | 6 mo. 15 | 6 mo. 16 |
| Revenue | 1,617 | 1,498 | 3,352 | 2,997 |
| Growth | -7% | -11% | ||
| Net income (loss) | 244 | 156 | 480 | 273 |
Symantec Corp. reported the results of its second quarter of fiscal year 2016, ended October 2, 2015.
Michael A. Brown, president and CEO, said: “With a security-focused Symantec, we continue to increase our momentum as the global leader in cybersecurity. We drove growth in Enterprise Security for the second consecutive quarter, partly due to a 10% revenue increase in Information Protection solutions including another record quarter for DLP. To set the stage for continued progress, we will deliver more than a dozen new products and services over the next three quarters.“
Thomas Seifert, EVP and CFO, said: “This was an important quarter for Symantec. On October 3, we completed the operational separation as planned, and Symantec and Veritas are now running as standalone businesses. The close of the Veritas sale is on track to occur by the end of Q3 and we have received board authorization to accelerate the return of $2 billion to shareholders, beginning with a $500 million accelerated share repurchase.“
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