Semantec looks to cut costs as revenues slip 6% in Q3

Friday 5 February 2016 | 11:08 CET | News
Symantec said revenues for its third quarter to 1 January came in within expectations, down 6 percent year-on-year to USD 909 million. The operating came in higher than expected at 16.1 percent, from 3.5 percent the year before. The net profit slipped 23 percent to USD 170 million, with diluted earnings per share down 22 percent to USD 0.25 and adjusted diluted EPS off 21 percent to USD 0.26, within company guidance. The company will also be implementing plans to achieve greater profitability through cost savings of USD 400 million by the end of fiscal year 2018.

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Categories: Internet
Companies: Symantec
Countries: World
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